An option may be fine, tho imo it would need to be set to 'privacy' by default or we're back to the problem of unsuspecting users not even knowing what they share.
If you do want EXIFs in your uploads (not sure why) you could always just use an external image host, like your own blog site. And since we have this possibility, we might not necessarily need the 'preserve' option on Steemit.
RE: Should Steemit remove the EXIF data of image uploads?