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Let's please call it as it is: the dick pic network is shrinking and hasn't ever found a proper purpose beyond sending those. Sorry to be so blunt.
Snapchat is not a "dick pic network" and if you've read the article maybe you could understand how someone can have a personal connection to a website, it's users, and the culture around it.
The author, "dick pic" commenters, and celebrities are not really the core snapchat audience. Every single young person around me uses snapchat as a communication medium, not a social network. If Evan and his band of merry pranksters decide to hire people who actually know how to run a tech company (and perhaps the latest CFO hire is an indication), snap may have a very bright future.
Young people hate the redesign of Snapchat. They could very easily move on to some other app (kik?) and make Snapchat yesterday's news.
I would say that the next logical place is Instagram stories. Instagram is already used as a more permanent & curated version of Snapchat, and Instagram atories is basically Snapchat stories, but within the Facebook walled garden.