I think 10 cents per Steem is pessimistic because I feel that the market demand would never let the value of Steem decline to that point (unless the site was dying). The trend for active users is not great, but that is most likely due to Steemit still being in beta and thus having no marketing presence and a lot of attention to Bitcoin's 2X drama.
If you look at sites like Twitter or Facebook, with an effective marketing campaign plus crypto becoming more mainstream gives me believe that the platform can get to 100,000 active users sometime in the next 18 months. I feel that Bitcoin is on the verge of becoming mainstream. Once Bitcoin pops, people will look for other opportunities naturally leading them to other cryptocurrencies with "network effect" potential.
sounds like a win-win situation
0.50 USD - 2.00 USD per Steem is realistic range, so 0.10 USD is indeed pretty pessimistic valuation. I set my sell limit to about 1.70 USD per Steem on HitBTC, because I think the value will reach that in decent time.