It is an interesting question that I have pondered. For reference, it is my understanding that TikTok started roughly the same time as Steemit. For some reason TikTok seems to resonate with the masses. I believe TikTok feeds the brain much like junk food and sweets. Perhaps folks nowadays are simply too lazy to be interested in Hive as in its current iteration. We may stay a niche site, which is not the end of the world, I suppose.
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It might take an app with aggressive algorithms like TikTok, built on the Hive blockchain for it to grow to those same proportions. You bring up a good point though, is this something we really want? I guess slow, steady growth might be the ideal thing for the platform and community.