IMO one of the key barriers is removing bitcoin mediation both ways. Steem has gotten rid of it to an extent on the buy side (because you can post and earn steem without buying it for btc), but on the sell side you still have to sell your steem for btc (and eventually cash if thats your thing)

IMO thats one of the forces pushing value down on the exchanges. If you want some, you don't necessarily have to buy it. So people only hit the exchanges cashing out (for the most part)