You know what people miss about the economy of Steem? Is that it's tokens aren't supposed to increase price over time
Then it is doomed. No one will invest in it, and the price will crash from however many people want to cash out (even if it is a relatively small number).
You absolutely need buyers to maintain a price in the presence of sellers, and for there to be buyers the investment has to be at least somewhat promising. If and when people believe that the price isn't supposed to increase, the entire project will be a complete and rapid failure. Thankfully that is not entirely the case at this point, but unfortunately there are many doubts.
In reality, the amount of inflation matters. The market may well be able to absorb say 1% inflation but not 8%. These numbers are of course hypothetical, but it is clear that less inflation is easier for a market to absorb for a given level of demand.
Do you invest in USD or any other currency? No you don't. You speculate it's price will appreciate or devalue against another currency. That is how SBD is supposed to work, like any other currency. Or you trade against another currency because you need that foreign money.
What increase the price (long term, not short term) of a company stock? Increase of the value of the company. That is how STEEM is.
So, SBD doesn't have an utility except speculation, therefore there is no reason for anyone to buy it.
And why would people buy a share of the blockchain (STEEM), if this place is totally unnatractive for the general people?
Why would I invest on something that it isn't increasing in value?
Unless those that have the power (big stake owners) get this instead of squabbling over things that doesn't matter, steem will keep on sinking. And this is not speculation. It's a fact. A basic economic fact.