For Steem, also consider that SP is the fuel to power the engagement and transactions of the protocol so as more DApps, people and engagement occurs more stakes are required which diminishes liquid Steem and thus supply.

It is going to get very interesting with RCs later.

The imbalance in the front years is not having enough demand as the ecosystem develops and attracts developers and users but imagine the prospects of the flip side when there is more demand than supply.

This is the problem in crypto in general as it is nearly entirely speculation without real world usage and demand.