It is very interesting, I wrote on this subject too: https://steemit.com/steemit/@steve-speaks/steem-is-gonna-boom-or-will-be-doom
I believe it can happen of course, IF they see it in time. It could also well be that they set up something for themselves or join forces.
A construction like Steemit has already been used by Youtube (creators get paid) but is much more complicated.
Just read your article - interesting thought I would say... Going by historical trends, Google wont create its own 'Steem' but would go for buying one... Like Google bought Youtube...