in my opinion there is the distinction between infrastructure with unlimited amount of dApps (STEEM, EOS) and just a dApp or niche application based on such infrastructure. Both can be very profitable but infrastructure with magnitues of order higher market cap possible. Even if you take the rest of 700 million supply into account $0.37 -> $0.11 as instant dilution it is a factor of 3.5 with growth over a billion $ it would be still 3x.
in my opinion there is the distinction between infrastructure with unlimited amount of dApps (STEEM, EOS) and just a dApp or niche application based on such infrastructure. Both can be very profitable but infrastructure with magnitues of order higher market cap possible. Even if you take the rest of 700 million supply into account $0.37 -> $0.11 as instant dilution it is a factor of 3.5 with growth over a billion $ it would be still 3x.