Humans cannot bear reality, they crave a positive outlook - they cant help it, it's hardwired into their brains - and folks who want to earn money at steemit, mostly sell positive thinking.
It's a legal drug.
It doesn't matter if their followers lose money (don't they all have "free will" ?) as long as they can eventually be hyped up into a bull run again, where all positive predictions will eventually come true, or the ones which don't, are rapidly forgotten.
Just like the momentary bear market is just a sign of their momentary herd depression.