Its distressing, but not a tragedy yet. Verge, Tron, Ontology, Theta, OmiseGo all did worse then Steem and Steem only did slightly worse then Siacoin, NEM, Maker. And Steem is still 100% up from its bear market low. If Bitcoin returns to anything close to its all time high, Just the tide raising all boats will bring Steem way north of a buck, if not back to quite a bit more. At least thats my somewhat less then educated take on things.

Edited to add: If we go down to the mid .20 range again and form a double bottom that could be very good for the long term health of Steem. But wouldn't that be a scary ride.