Your arguments are solid and they make sense to most of us who have been here for some time, the thing is I've been hearing these arguments for a year now and even though the blockchain has evolved from a technical point of view and a lot of dapps and front ends have appeared, engagement and popularity and also the price of steem is still similar to what it was a year ago. Maybe all of this won't matter in the long run, but sure as heck I won't like to be in the same situation a year from now.
I like to think Steem has moved along a lot even though price might be the same as it was a year ago. It's hard to compare price with Steem and other crypto as we are at a constant inflation rate and most of the improvements have still been in the backend. Price doesn't always reflect on a project's real value either and manipulations aren't unheard of in the crypto space. Time will tell I guess.