It is indeed early days - steem and steemit is a little over one year old...maybe 1.5 years of age
More and more people are joining the steemit platform - the wealth to an extent is becoming more decentraliized....slowly. This in my opinion explains a lot of why we will see such ups and downs in the price....as big holders dump and unload on the bigups...and maybe or maybe not buy back some on the dips downs.
participation here can challenge an individuals emotional fortitude - seeing the valuation of a post being high or low relative to an individuals judgements can invoke emotion and or feeling - for better or for worse. Self-reflections is indeed apparent here.
self-governance is the functioning model here. Libertarian....austrian economics style. Some more attention i think is needed into what is "austrian economics" and how this is a practical model.
Education...Education...Education - New things are a bit wobbly....steem and steemit is definitely ironing out the kinks...i would say this is more to do with humans interacting together and having a regard for sharing the same space and platform - with the considerations that our actions are always in relationship to everyone else - whether we like it or not - This opens of the regard for 'consideration' - the 'love thy neighbor' principle
Content as a means of value creation is indeed genius - it just may take some time for this to really catch on in terms of the way we think about things.