I dont think the hardfork will lower the price, because most people have been cashing out of STEEM, that was the main cause of the price devaluation.

If the inflation is significantly lower, then the price has time to heal itself, while the internal curation gets more efficient, rewarding only quality posters.

Then after we get more demand slowly, the price can go up, and rewards will again be high, but without the inflation effect.

This is my opinion how it would look like. A smaller inflation is closer to an ideal closed economy like it should be.