I think market cap is a lousy measure of value, but I know many disagree. They call it objective measurement of worth by the market.
I suspect however, that using a single characteristic to draw big conclusions is a faulty premise.
Hive has potential, but Hive is complicated, and although simpler to use then most blockchain social media, it is still complicated.
I wish I was at HiveFest, it would be nice to see if there is anything promising in our immediate future.
I hope you get to go, even though you moved east.
That's kind of a silly take considering MC can't measure volume or depth.
Two market caps could be exactly the same, while the amount of USD that can actually be extracted from the liquidity pools could be wildly different depending on how many buyers there are backstopping the current price.
I agree that using a single measurement like Market Cap and extrapolating conclusions about vallue and future potential is very faulty logic.
Your examples are some of many.
I think characteristics like utility and community are much better measurements and the success of BItcoin and Ethereum in either community or utility suggests those characteristics have much greater predictive value of value or future success.