It seems curation may soon improve. Also, the reputation system may improve. Despite all this, the total value depends on accomplishing a purpose or many useful purposes.
My purpose is to promote a better worldwide koin. If I had more money I would maybe put $20,000 into steem to get influence and coordinate with like-minded individuals. This desire to participate in meaningful discussion and action is where the money comes from.
What's your purpose?
But by actively contributing and adding unique solutions to difficult problems, I hope to find friends and earn influence. Right now many good posts are not being noticed, but maybe an improvement in wealth-distribution would help this.
I'm sorry, but I foresee that Steem will get down to at least 20,000,000 before rising to take its rightful place. But who cares, it's still a great place to study, innovate and improve blockchain.
Is this a Potemkin village? Perhaps yes, maybe all of cryptocurrency is. See my link above for making blockchain what it can be.