Cost per VESTs is still higher but the supply of steem have more than doubled since then so the cost per vest should actually be a lot more higher.
If the supply didn't move and the cost per VESTs was higher then you could say a share in the platform is more expensive but with 100% inflation the price should have been at least twice higher but its only 0.20$ more expensive.
STEEM is an entry/exit token not intended to be held long term so comparing its value over a period of months is meaningless
Steem's value is always meaningfull because it represents the rewards on the platform, the lower the price the less interests and investments you will get.