Steem does have a great community in general compared to other coins as it is not purely about the money. The social aspect is important too. Having an actual community feature would be a massive benefit as people like to congregate around an interest and it may be easier to bring over existing groups to somewhere that can earn them something. I do have concerns that a proliferation of tokens could cause confusion. Can they all have real value? We already have loads on Steem-engine and most are almost worthless. Steem has other benefits, but getting paid is pretty much unique and it has to be in a form that people can see the value of.
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Most will likely have no value. But some will become extremely valuable, and that's what it's really about. Whether it leads to confusion or not likely will have more to do with user interfaces than anything else. After all, if there are a million SMTs but no one ever sees them, why would they be confused? In the end, we can always choose to only show STEEM, and as of now Steemit does not have any plans for adding any tokens to steemit.com, including SMTs. The assumption is that, of course, at some point we will, but even then we will likely limit our interface to displaying a small number of them, and leave it to the user themselves to determine which coins they want to see.