My short answer would be yes.

My longer answer would be yes and we've been living in that bubble for quite a while. The only place were people are actually talking about Steem is here on Steem. Even within the crypto space (mainstream adoption seems to become less likely every month), Steem plays a rather minor role and from what I can tell now, it doesn't seem to change any time soon (as far as I recall the last time Steem was in crypto media was, when STINC had to lay-off people). Dapps might revive some interest in Steem, but since they all use their own tokens, what's the point of scooping up on Steem?

One metric, I would be very interested in, is how Steem's ranking on CoinMarketCap changed since the beginning of 2018 (if someone knows where to find it, please give me the link). From what I remember, it significantly dropped from somewhere around 40 to somewhere around 80 now, but I could be wrong.