If they really are generating $100k per month, at $.10 we would have a $30 million market cap. Steemit is just one app generating revenue, yet steem is a global product. At that point the valuation wouldn't seem very speculative at all...
Things can change of course fundamentally, but I look at that $.10 number as a potential floor given the current fundamentals.
Hopefully we don't get there though.
Now, if we can get some improving fundamentals, we can start talking about raising that floor... :)