What's sinking HIVE right now is the investment of Value Plan in failed projects, and it happens due to the lack of evaluation and tracking of the projects supported. It generates inflation and wastes the money on projects that doesn't really generate investments on HIVE.
Despite this, I still think HIVE has a future, specially thanks to its way of generating value, that is through social DApps, which means there's always people demanding the rewards the blockchain generates. But several things should be taken much more seriously and strategically.