I am not sure about that. EOS has roughly $5 billion backing it. Steem doesn't have any of that. However, steem has a working blockchain and a social media site. I am not sure steem should be higher than EOS, but it should be higher than about 20 other coins that are currently ahead of it in terms of market cap.
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One big thing missing is direct Steem to fiat conversion. You have to exchangr Btc, Ethereum etc. for Steem. If Steem could work with Ten X to get in on the crypto debit card or work with Coinbase etc. tgis would probably help to bring Steem to a higher value. More functionality and accessibility & many users=more value.