That is a very interesting way to look at the price of Steem. I studied Metcalfe's law when looking at the adoption rates of a network Vs. the time it took for a platform to be adopted. I am working on data at the moment, but I am trying to anlayse the rate of change of the growth of Steemit, then use that data to figure out where we are on an adoption curve and where we will be in six months - although it is proving difficult to get these calculations right!
Anyway, while I have a more conservative figure in my head for STEEM, it's hard to argue with the numbers and logic that you presented - I think we would all be more than a little bit happy if STEEM hit that price! Thanks for the post, would love to talk more about the work that you are doing.