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I just find it weird to throw both STEEM and VESTS into the same market cap.

Technically they are not the same thing. They don't have the same value - VESTS need to be adjusted to account for inflation and opportunity cost that comes with the lock-in.

Although now that I think of it, my point on counting only the liquid STEEM is baseless. SBD is created in 1:19 ratio, all of the STEEM being issues as VESTS.

Coin Marketplace

STEEM 0.19
TRX 0.15
JST 0.029
BTC 63294.77
ETH 2638.69
USDT 1.00
SBD 2.70