I havent ruled it out, but do contend that demand for influence on a blogging site might not equal a dinner in a nice restaurant, and the price is limited by what folks find to be a fair use of their resources.
If steem goes to 100usd my grandkids will benefit, 10usd takes care of my worries, today, but inflation happens.
If steem influence is worth less than a night on the town, lets hope it never goes below a cup of coffee.
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Another thing to consider is that there is no forced redistribution method like taxes on income or wealth that might exist in other real-world economic systems, combined with the fact that current whales dictate where future steem is distributed (themselves, mostly), and you have a system set up for failure that doesn't scale at all.
Whale greed will be the demise of steem.