"There are not too many great projects like Steem where in the downtrend you can see so many innovations".
This basically sums up everything, every time there is a bull trend we see a lot of new coins going up and the majority of them don´t even have a project behind. STEEM and not many others are always improving and that's why we are growing sustainably for so many years.
There are some bad things too, sometimes it wise to look at the both side of the coin. While we do have some great things going for us, there is still a lot of work to be done before we could climb up again. With time I bet will climb that mountain of success.