Reduce the STEEM's inflation drastically reduce to 2% from current 8.7% by eliminating rewardpool.
Assuming that STEEM distribution has completed reasonably (better than ICO such as EOS). New STEEM production will be used for interest on staking and witness compensation.
Demand from STEEM will come from bandwidth purchases from the companies behind the SMTs and speculation.
STINC, as a owner of Steemit will lunch their own SMT. Perhaps they can airdrop on SP holders. All the experimentation on Steemit and other DApps will bottled out.
DApp developers and community will decide on their own reward pool distribution.
STEEM inflation will reduced severely, which will create scarcity, therefore, STEEM's demand will rise. Moreover, STEEM's valution will also depend of DApps/SMT's success and DApp/SMT's bandwidth requirements.