Fair enough. I agree with most of what you said. The real value of Steem is what people will pay for it. However Market Cap does matter, especially when a journalist comes along and writes that the market cap of Steem is $150 - $280 million. That information just isn't correct.

The available supply is not accurately measured either. The current available supply of bitcoin is not 21 million. The current available supply of Steem should not be 98.937 million Steem.