I would rather not say it was built on lies, because steemfest's original purpose is for people to meet-up for the betterment of the blockchain, both the current one and the last two previous editions have had almost the same goal and that is people getting to meet each other and planning for the growth of the blockchain like in the last thing edition we saw a lot of decentralized app founders who are actually planning to build prospects and further decentralisation to steemit.com.
Steemfest saw the founders of the DAPPs like musing.io and dtube meet together and for me the result will be plans being put in place to enhance steemit.com this alone is a positivity that steemfest brings and we must recognise this, however not everything discussed and plan in this event is actually put into perspective though I will not put it like you have put it I don't think steemfest is built on lies but the truth is that it hasnt achieve even up to 60% of everything that it planned or set out to do.
This is just to say that steemfest has been more of drinking, dinning and gaming and people are lost in the frenzy of meeting each other I would basically thank the people who made it possible but the goals and purposes are not 100% achieved when it comes to this event and that is one place I think it must improve so it is not based on lies it is only that it doesn't achieve 100% of it's purpose in the sense that when the event ends plans should be put up in order to actualize what was discussed in the events I have heard most users complain in the past that the things discussed at this event is never always put in place however I wouldn't call it bring built on lies I would call it misplaced priorities and the people who are in charge of this event should try and put this into place.
Let me ask you a question, have you attended any of the steemfest before? You need to experience it by yourself before you ask the question above. I got a friend who attended steemfest and told me that I must go attend steemfest if I got the chance because the experience at steemfest is one of the best experience my friend have.
The steemfest isn't a normal conference where everybody go there with namecards to give out. It is a conference that combine with experiences. Strongly suggest you to read all the posts, watch the video on peoples who went to steemfest last month.