It's a good time to buy in during the dip, and you are quite correct in this article holding Steem Power has the long term benefit of growing while you are holding it.
What you can do with that Steem Power holding is even more versatile, earning from delegation as you mention - but you can also delegate to support community projects or just make use of the upvote value your Steem Power gives you to support your favourite content creators and encourage small but growing accounts.