Some people are too dramatic using words as "collapse". If steem value goes down, users will simply experience a reduction in payouts. That's all there is to it. 20 days ago our payouts were 1/6th. Now they are more, tomorrow they may be more, or they could be less. Most authors don't care. Their typical social network will pay them precisely ZERO. At least here you can get paid for your content. Will it be 5 cents, 5 dollars or 5k dollars - well, at least it's more than zero.