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RE: The Case For 1 Steem = $309.36
I think the correaltion would be more users = more people want to power up = buying pressure for steem.
Also, more users might equal more headlines in major newspaper which would in turn attract traders and speculators.
The second part of your statement is sound, but the first part is iffy because there is no guarantee that new users would want to power up. There is a high likelihood that many new users just want to make money off of the platform and will just take their Steem dollars out of the system and buy Bitcoin with them. I personally have used every single one of my earned Steem dollars to purchase Bitcoin. I never even think about powering up since I also earn Steem power from posts.