Quite possibly. But with the rewards system they already have could be the key to making this platform useful and of high value if and only if Steemit could maintain stringent measures to thwart those scammers, bots, fake accounts, and automated upvotes. In any case, garbage content could already die in itself for being recognized as garbage and left ignored by the Steemit community; that is if the kind of people on Steemit aren't garbage collectors. :D

And in attracting mass user base, there's a big potential to doing that if the developers would focus on the user design and experience. And you're right, if Steemit aims to just become yet another Reddit or Facebook, not everybody cares to microblog especially on a still dry looking platform as this.