Well the whole steem engine does serve a purpose as it apparently reached 1 million steem. So it might take steem of the open market to affect the price.
As for all the tokens. Unless the develop their own purpose and sinks they will keep going down. Look at dec. those have a purpose and sinks so hence they go up
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Beside the sinks, new tokens are issued in the market. Although, some Steem is out of traffic, the new tokens have a high inflation. The overall token+Steem total supply seems to be growing. The system seems to be inflationary to me. What wouldn't be a problem if new users were entering the space. But I don't see them.