Yeah, this all makes sense. I think you have put your finger on a number of key points.
Just to take one - the change from 2 years to 3 months for power down is a change of (an at least implicit) contract. It really changes the T&C quite a lot. It does seem to suggest that some people want to get out quick. And if they do, why should we have confidence in the business?
That said, I guess it is in beta still.
the social media aspect alone is enough to have confidence in steem