I think one major problem of steem is powerdown takes too long, so not many people buy it to power up anymore, and scot market size is still relatively small. I actually did some analysis on steem-engine, maybe i'll post it some day.
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The Powerdown also artificially boosts Steem price as people wanting to sell do it in various times IMO
Sure, that's why Steemit Inc doesn't shorten it :) But in the long run, especially for people who experienced this kind of drop and haircut, they will not considering powerup seriously. So ironically, the haircut situation is a good time for a change. But of course, I don't expect that Steemit Inc would consider that :(