You present valid points, and yes I agree, Steem will not be like Bitcoin but believe me the madness of crowd cannot be underestimated. The FOMO is illogical, once the celebrities are aware of STEEM and most recently DTUBE and they advertise Steem, I won't be surprised if we do see the moon albeit very shortly as we fall back to more realistic prices again.

Correct me if I'm wrong guys, but I believe the inflation rate is no longer 100% but somewhat much lower, close to 15% if I'm not mistaken. I'm not sure tho. Please don't quote me.