They have an unrealistically high price for their IEO. Nothing else seems to make sense.
I have always been a bit mystified by one of their posting instructions:
Do not share links which are not informative and useless
I guess the double negative means we should only post links that are useless and not informative.
OR! STEEM is extremely undervalued. With a higher STEEM price, it would all make more sense :)
Anyway, after asking around.
There seems to be a 'yet unknown' power downtime on the DLIKE tokens earned from delegated SP vs the IEO preventing the price from crashing after it becomes tradable.