These are great points, Luke. It's really surprising how BitShares and STEEM are "underperforming" in the markets. Perhaps speculators prefer the sharp rise and falls over usability. Since the price of both coins don't dramatically change overnight, not much buzz is generated on behalf of them.

It could be that the lack of marketing material contributes to the lack of adoption. Some people might not have the patience to read the whitepaper, being intimidated by technical terms. Bitcoin, Ethereum, etc are more accessible since people are riding the hype. They base their results on the price they gain in the short term instead of the long-term view of their investment.