I cannot agree, current market and exchange situation doesn't contradicts anything I've described. You state there is way too much liquid STEEM available for selling. Why? Because STEEM is currently terrible asset for holding and most participants are trying to transfer it to something more persistent (stable/profitable). You compare it with DASH which has even worse inflation. True, but current phase is different, huge STEEM pump is already over and there are no other strong impulses that boots the price.

Still, there is good tech (and slowly improving value of the STEEM project), there is constantly slowly growing user base and still STEEM price is declining. Yeah, why? Because inflation setting for STEEM is too aggressive. Current inflation level would be reasonable only good with 100x userbase growth per year because it would make inflation insignificant. That is not happening and even if there is some super-cool feature and millions new users are in, once STEEM reaches user limit, there will be the same problem again. Other crypto-coins with huge inflation will experience the similar problem sooner or later no matter what after certain pumps and boots. Unless they are constantly innovate on high level. There might be spike and large initial growth but price will suffer greatly in long-term, there is no escape from that. Only options to keep price rising or at least stable is to boost project potential 100x per year which is very difficult or fix inflation to reasonable level. There are no tricks how you can do it - unless you have some wealthy sponsor who wish to sponsor the platform and doesn't care about his own loss. Anyway stable technical improvements and low inflation is the best what you can do for stable growing price and that is what most users want IMHO.

Current STEEM progress is not fast enough to cover high inflation and therefore there is lot of liquid STEEM for sell and price is declining. Therefore there is not any reason for keeping such a high inflation in this situation (or any other situation, actually). Period.