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Facebook has huge user base. That is their strength

It's not just their strength. It is a HUGE strength. Facebook might have been able to eat up Snapchat but the entire Facebook platform would need to be rebuilt if it wants to implement SMTs. The cost of creating an entirely new Facebook would be very high.

I have a feeling Facebook won't disappear. The old people need a user friendly experience (which most other social media sites lack).

I completely agree with you. Let me tell you my friend, in my humble judgement, Facebook is a platform for narrow-minded people, where you are the only product and Mr. Mark is your absolute owner. Steemit is another thing, it doesn't deserve to be compared, it's a thousand times better.