Price seems about right. The network still feels like it is contracting. Not sure if it is speeding up or slowing down, but we're still going in the wrong direction. It will be interesting to see what happens if we break the mythical seven cent barrier. People are starting to feel ten cents, we see how everyone feels if we reach a new all-time low.
Not like any of this is surprising. The platform is trying to find equilibrium somewhere, and I believe we haven't found it yet, although we may be getting close. Whether Steem can survive when it reaches that equilibrium is another question.
But in an attempt to spin the negative into a positive, a shrinking network means less competition. Less competition means more abundance. It's pretty easy to get seen and garner attention given the lack of quality and the lack of creators. I've been able (more than ever) to make consistent Steem earnings recently (although I'm not a frequent poster). Sure, the Steem may not end up being worth anything, but the "virtual" value / representative value is still cool. We can tell our grandkids that we were pioneers in a new and unforgiving frontier. Granted most of us died and came away with nothing, but we'll still have the history.