exactly, if it holds true that Steem as a currency reflects the value of steemit.com as a network you have to take into account that a network that doubles in size quadruples in value (Reed's law)
Now the interesting bit of course is going to be if that perception is going to hold true. I think the power down feature is really smart, it might hold new users in the network long enough to convince them of the value of the network, before they cash out altogether and leave.