I don't think you can compare E-trade with Bitshares. E-Trade is valued based on its potential for growth (no room to grow) and ROI (in the form of dividends) to investors. Bitshares is similarly priced based on potential for growth (trillions of dollars of cash it can represent as well as being the mechanism that will allow the unbanked in the world to store and trade things of value easily) and in this sense ROI in the form of fees taking tokens out of circulation is just but a small part of the asset's overall valuation.