I largely agree with your reply but I would add that when Bitcoin was $1200 there was a non trivial user base and there was quite a lot of functionality. There were several markets some of them dark also buying gift cards was no problem. There were numerous exchanges. Even Coinbase was operating, linking wallets to bank accounts. As far as mass adoption is concerned, I'd liken it to an island state like Barbados. Sure it will never get mass adoption but for those that use it over time it becomes more valuable. Steem has a real chance of becoming its own island state as well as not everyone blogs or produces content but there are many that do.