I agree with you a lot of people just associate the price of STEEM with how well the project is going. There have been tons of improvements and it is really hard to say how that effects the price in the long run. Because of the nature of this system not everyone is a pure investor like they are with coins that are mainly just a store of value. So it is like when the price goes up a new flow of new bloggers come in and often times they will cash out some of their earnings for their hardwork which is understandable.

I think we are going to see more and more of these platforms that provide 3rd party access to the Steem blockchain and continued improvements and community building. But I really don't know how that is going to reflect in the price.

This is one of the top 5 most interesting and most useful crypto projects but there is also a lot of hate out there for this platform on places like YouTube and reddit. Hopefully we can overcome that or that the community who likes it here grows big enough and the prices are at a place where it doesn't really matter.