My theory is this: there are a handful of authors/curators who actually care about the success of Steem, but the rest are primarily seeking passive income and selling as soon as they can. I really hope Steem succeeds but this model isn't taking into account the shitty economy and people who need to pay rent and put food on the table.

A big money guy needs to come in and buy a shitload of Steem to push it up and give investors a reason to make some bets.