Great post and good points! My only comment would be that currently steem is falling much faster than it was designed to... The dilution should account for roughly a 2% decline per week on average... it is falling closer to 8% per day on average... things need to be tweaked.
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Yes, that's been a real concern. But if the trend of the last week or so continues, then we should be okay. But yes, it's clear there will have to be some adjustments. I just wanted to counter act all of the negative "Steem is falling" articles and make it clear that we are not in as bad a position as normally portrayed.
I think the only reason for the bounce last week was that @ned and @dantheman were able to instill some short term confidence by saying they were going to tweak things that may counteract the supply/demand imbalance. If they don't follow through with that in the very near future, like this week, I would expect the acceleration to the downside to start right back up again shortly...