Everyone has heard that STEEM has very high inflation, and users should convert to Steem Power to protect against it. Do people really understand what that means though? To put it in another way, the price of STEEM is meant to go down. Granted it is going down faster today than it should/will under 'normal' conditions, but that is mainly because of several factors which make today's situation kind of unique:

The network is in a distribution phase, which means it is purposely inflating STEEM at a faster rate than 'normal'.
Many of the early adopters are powering down and cashing out to capitalize on their initial investment, as well as fund projects that they believe will add value to the project in the long-term.
The July price spike caused the network to produce a lot more SBD than the platform was arguably 'worth' at the time. There is now a very large amount of debt that the network must pay back.
There is still not a very big demand for STEEM/SP yet, because the product is not ready for mainstream users, and there is not much to combat the inflation by generating more demand (like through advertisements) other than speculative investing, and users wanting to work their way up to dolphin/whale status.