Here’s the deal on Steele (heh!).
Here was a pro, a well-connected Brit, who understood Russian espionage and its subterranean tricks. Steele was regarded as credible. Between 2014 and 2016, Steele authored more than 100 reports on Russia and Ukraine. These were written for a private client but shared widely within the US state department, and sent up to secretary of state John Kerry and assistant secretary of state Victoria Nuland, who was in charge of the US response to Putin’s annexation of Crimea and covert invasion of eastern Ukraine. Many of Steele’s secret sources were the same people who would later supply information on Trump.
So what makes Steele “credible” is that he came up with stories that supported the State Department’s position on the Ukraine. So we can see that Steele has been part of the whole State Dept./anti-Russia campaign since before Mr. Trump threw his hat in the ring.