Steem has only been active for a short time, and there is only currently a small amount of users compared to the 8.5 million users on blockchain.info alone. This leaves Steemit with room to grow. And with only 50,000 total users, Steemit is already #3 on the cryptocurrency market capitalization list. Some people think that it's kind of like silver and gold. Steem is extremely undervalued at this point, just like silver is undervalued to gold. Also, silver has real tangible industrial demands and actual uses, while with gold it's pure speculation.
The internet searches for Steem and Steemit are really rising, even though the value of 1 STEEM has fallen due to dilution; while bitcoin's searches purely relies on the price. This proves that Steem has intrinsic value and has real life applications as a technology, social media and monetary system, while bitcoin could be looked at as speculation.