Looking at the concept i feel EOS is not the competitor of steem and while the project is also different so it cannot be the competitor as steem is more better than EOS because steem has given the platform where everyone can get a chance to build their reputation and earn money.
EOS is confused as to who they want to compete with. I really dont understand what is the new thing they want achieve or build ? First they wanted to compete with Ether. But i don't understand how they are better than ether or what problem they can solve that ether couldn't ?
If they want to compete with Steem what makes them better than steem ? Steem already has a functioning social media platform. Once SMT's are launched their is no need for developer to switch his project from STeem to EOS.
But if for some reason SMT's are not launched or cannot be launched Steem is doomed.