The pervasively negative price effects of the current power downs are, I believe, an effect of having too expensive financing early on.....ie giving away too much to cheaply to early participates/investors. There may not be much to do but ride it out and hope it does not cost the survival of the project.

Edit: maybe a reduction in the 300% inflation rate will help address the issue. Though I understand the initial high inflation rate has its benefits, Steemit may not be able to afford it due to the financing miscalculation stated above.