I think the proposition remlaps on promoting posts by burning STEEM is great. In general, reducing the number of tokens can probably lead to an increase in their price, provided that demand for them will be stable.

But I completely agree with you that the key factor is the demand for STEEM tokens. I even wrote a post about it. The economy of any token is no different from the economy of the state. If the trade balance is constantly negative, it will depreciate the token. That is, people need to invest in a token, that is, be willing to buy it.

The vast majority of cryptocurrencies rise in price only because people believe that by investing in them, they will eventually make a profit. The STEEM token price chart does not inspire such hope, and Steemit has strong competitors. The platform should attract money in other ways, such as making money from advertising or making paid reviews of goods in the style of the Diary Game, and so on. Of course for all the money earned must buy STEEM :)