Bitcoin had major problems getting off the ground in the early days. Major corrections happened after bubbles. Many thought Bitcoin had failed, was a scam etc etc. It takes years for things to come to fruition even in crypto. Some alts will survive some wont.
Unfortunatelly, Steem doesn't seem to be one of the survivors now. With this price.
Steem is approx 3 years old. If the bottom is 0.12 cents thats double its last bottom and steem blockchain is still here. It still lives it still survives.