I think he's not wrong to separate the value of steem from the bear market issue, since the down tend says nothing about the intrinsic value of steem. markets often behave in a way that exposes powerful players to opportunities thought herding a crowd a certain way. an indication that an asset is undervalued is when accumulation of it occurs as it priced down. I don't see it in steem and it makes me worry about the platform. I hope to see STEEm as being more the a mechanism of wealth transfer in dollars. I think that deploying censorship is a sure wat to ATTRACT sceamers and bad actors, since they will rush to missuse it. So I disagree with you