Steemit cannot really be equated to an Altcoin. Most Altcoins offer nothing except the chance to lose money. This is a novel blockchain implementation which is gathering steem (no pun intended) and users at an unprecedented rate. A great distribution system for tokens to people who genuinely put effort in to making this a productive and interesting platform. With its reward model it will likely make reddit obsolete.
RE: Where Does Steem Fit In With the Numerous Altcoin Scams?