I need a bit more information. I don’t know what the criteria is for YouTube for comparison.

Is it simply for how many followers? Then you apply for it? Including paying a fee (keeping out trash or giving the organizers compensation for their time spent).

What is the actual reward supposed to provide, beyond the physical paper weight and egotistical boner? (serious question)

I mean, do they (Steemit/YouTube equivalent) publish the information somewhere? Do you get a monetary reward when receiving it? Is there an event for it, that gets broadcasted (that will reach a large audience, attract sponsors, advertisers, generate income, that could be distributed, used as payment, etc.)?

There must be a reason for doing it - a business model - behind the seemingly “altruistic” reason. The altruistic reason: rewarding someone for their hard work and excellence in something.