I get your point, but it also fails to consider something very important.
Please excuse me for the lesson history, specially if you know this already.
There was a terrible decision made by Steemit Inc in one of the hard forks, the people who held Steem at that time saw their currency get devalued like crazy as inflation was turned up to 11 (pop movie reference)
At that time many of the ninja miners dumped, most of them did actually, because the currency went from being upwards of 4 USD to seven cents. Keeping in mind that the 4 USD was with a way higher BTC valuation, meaning that the equivalent today would be like seeing a Steem at idk 40, 50 bucks.. it's really that ugly.
At seven cents the dumps where disgusting, and the evidence for this can be found for those who would like to explore.
Those who held through those times, those who kept engaged deserve a certain level of credit for doing so. Hence why the ninja mine argument to me does not weigh as heavily as it used to prior to this event. I don't dismiss it completely, but I'm not willing to say the strongest of hands have no merit.
On your point about being delusional or not. Idk, I guess all I can say is that two wrongs don't make one right.
I mean, I may not be the best example, but I've managed to grow into a dolphin (there are other users who've done a lot better). I've also been able to pay for my mortgage twice this year with my Steem earnings.
In other words, i've allowed the investment to grow enough to where today it can do something.
Have I bought Steem? Yes, but I've also earned close to 3000 SP just by posting and interacting like we are doing at the moment.
So, I get your point, but it's also and I say this respectfully self defeating to think like this.
Nah, the pump was on thin volume and the price went down appropriately as more people shoveled steem off-site.
The ninja mine and the period of high inflation are just further evidence that the game really favors those who got in early and only backs arguments of the pyramidal-shaped nature of the system.
This Is Spinal Tap!!!
Yeah thats all I have to say!