To use price as a basis to reflect what is taking place is a poor idea. Prices might or might not be reflective of what is going on. In fact, after the announcement of MIRA, the price went down since them. If market action was reflective, the good news would trigger a run. It did not.

Of all the blockchains in front of Steem, how many have a business that is bringing in over $400K a month without being an exchange or gambling? Steemhunt has posted on their Reviewhunt site that they have commits on over $400K monthly from 42 businesses.

That is real world money from real world marketing budgets.

The early stages of technology is wrought with people looking the wrong way.