I think the price floor that the users on here agree on discounting the Upbit premium is still much lower than what we've seen recently. Your point stands in that even if other altcoins get completely vaporized in coming months when speculators dump, steem will have price discovery by the native userbase even if it temporarily overshoots a correction. Steem is actually one of the only coins to have pumped before the 2017 market frenzy, so it shows that it can infact have price movements independent of other coins.