Price is not a very interesting or even particularly useful metric. A lot of people can't see past it , as they want $$s, but what is actually far more important are metrics around usage and adoption - things like holders, DAUs, transactions counts, network speed, etc.

For a lot of projects, these are embarrassingly low, and do little to justify even current price levels.

However, a few projects, of which Steem is one, actually are being used, have decent products, and are set to improve. With any luck, a lot of shitcoins will end up being flushed by a prolonged bear market, and those that hang around will become much bigger than they were before. There are parallels with the dotcom boom/bust cycle, where those companies that kept building and innovating survived, and grew into powerhouses.