Probably you are right, but those numbers are still amazingly high.
Especially, if you exchange those values to USD.
Based on the current Steem price ($2.43 USD), the overall Steem and Steem Power in that account is currently worth $9 405 421.01361 USD.
So currently it's approximately $9.4 million USD.
And this is just the @utopian-io account and this account is created on 2017 September 28.
So the whole project is approximately only 6 months old.
To be more precise, the whole project will be 6 months old exactly after 2 weeks counted from today (2018 March 14).
I see a very bright future ahead of this project.