Yes. Even though the price is low, you are still rewarded the same Steem for your contributions. If the price rises again, you will see your account value increase with it. Possibly, you might contribute less because you have to earn money elsewhere until then. However, it is a good idea to continue posting.
In addition, Steem is a social network, after all. The idea is to make friends and community. Even if the price is zero, you have an audience who wants to hear from you.
Personally, I have been buying a little bit more SP every time the price drops. It moves me up in reputation, thus granting greater rewards. The low prices are a great opportunity to save myself a lot of time in increasing my score. I have not invested a great deal. However, it would have taken ages to increase my score simply with posts, votes, and comments. So, if you can increase your score with some investment in Steem Power, you might see your income increase a little.
That is a very good Mindset.
I'm not sure SP alters yous Reputation in anyway though, buying at this throw away prices is a very smart move. I can't wait for us to get back to $4, or at least $2, like you said, our account value will adjust accordingly :)