The only thing I can think of is scalability. Will the steem blockchain be able to process 100x, 1000x, 1000000x ? transactions per second compared to currently? In fact thinking about this, I'm guessing that it's probably possible for the blockchain to be suped up if required in the future? If that's the case, then you are probably right about the instant and free transactions and, as you hint, gaining first mover advantage could be a huge factor.
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Supposedly, they have capacity for the kind of growth that is expected, and those are big expectations. There are ways for them to offload or classify some of the content so it doesn't clog things up.