I think it's not about the tech or that people post tons of shit.
In my opinion it's because of greed and stupidity:
Greed: People want to get rich quick, they like pump and dumps so they can feel like the greatest trader or most intelligent person for hodling.
Stupidity: People don't care if it's a scammy project (e.g. Bitconnect). Many have $ signs in their eyes and invest in the biggest scams out there.
Steem has a use case and that's Steemit. The content quality is questionable and the implementation supports the already rich and greedy.
But it's a great use case and brings people to blockchain in an easier way.
And it had it's gains regarding the Steem token.
I'm happy to hear more opinions...
Do we really need mass adoption ? Or should we be happy with a world where the majority is living in a regulated world, forcing states to control the banks ?