Steem is now rated as 51st by coin market cap.
The base of users is shrinking.
The development is stopped.
The interest is low.
There are no products based on Steem...
It's not underrated - it's becoming pointless.
That's the real warning sign and if we do nothing - it will be worth nothing
What products do other chains have?
The user base is always a problem. People come for the money highs and leave when the money goes low. Interests are conflicting, with those who care about money don't care about the social-evaluation platform side, and those who want to have the users prosper don't have the money like the investors who just want to make more money in most cases.
Development of projects is higher now than in the first year. You mean from Steemit Inc tough I gather ;)