I don't agree. What does it matter if there is a bunch of useless coins that are worth nothing? What matter is that there is a level playing field for experimentation. 99% token, whether they cost $1 or $100 will fail, that's just the how it works in life. All the worthless token will just be at the bottom and the good project will float to the top.
Fees are a huge deterrent for adoption. If you want to attract traders and speculators, the STEEMs will be locked into successful SMTs and reduce the supply anyway.
There should be some deterrent against spamming the network with garbage tokens and $1 is likely not enough.
How about launching SMT protocol with relatively high issue fee $100-1000 at first, so only serious projects do it and gradually reducing this fee over time as SMT tech matures?