... content that goes on the blockchain stays on the blockchain
With the added security and immutability of blockchain ...
This is the stage when the primary consensus of Steem is being formed: the immutability of the Steem blockchain is declared by the founders. Let's remember about it. Sooner or later we will hit our own incarnation of MtGox or the DAO.
I find this conclusion made by Curtis Yarvin extremely wise:
What's the alternative? An actual constitution. Perhaps the first smart contract that Ethereum needs is not the DAO, not even well-engineered, high-quality smart contracts like Augur and Maker, but just its own equivalent of 1789.