True. They should take it as a lesson to diversify over asset classes as well such as stocks and bonds, but also savings deposits for example. Crypto is an extremely risky asset class, so you shouldn't have a 100% of your portfolio allocated to crypto.

Steemit users shouldn't be too much concerned, since they're basically getting free money from their posts. What's their alternative? Facebook? Reddit? Medium? They all give you nothing in return for your contributions. Sure, posts value might go down since STEEM price has suffered a bit, but it's still a lot more than $0!