Tl;dr: Stenography just helps with obfuscation as long as no-one is looking for it. The second someone looks it'll fail, and if it becomes a common practice; everyone will look for it.

The theoretical idea is that the information could be hidden in a random location, e.g. extracting every Nth bit, such that the information would be indistinguishable from random noise. In practice, both parties need to agree on the location, so it has the same flaw as 'perfect encryption' methods like a one-time-pad, you need to transfer information IRL.

One could make a case for a group/app using a custom scheme to add a layer of security until someone infiltrates the group / RE the app, but you'd get the same security by just encrypting everything with the same password.