The price is going down but I wouldn't say steemit is "crashing and burning" in reality that initial price spike was completely un-realistic. We are probably honing in on the actual value right now. It should be peoples goal to help the site grow at this point.
Yes, the title was a bit of an over-statement, but I think my points are valid. The price was too high, and dropped after the July spike, but I think if enough quality users join, it could significantly increase (maybe not to $3.3, but close). Thanks for the feedback!
I agree 100%