The current Steem rise amid the controversy doesn’t seem logical. It seems like a manipulated pump to me. Yes the seizure of assets will ease some selling pressure but there are several big risks.

1. The negative press will deter future investors.
2. Those coding the new Hardfork are very inexperienced and I believe it was rushed and untested. We could see major halts of the Steem blockchain.
3. If exchanges see these seizures as illegitimate and legally risky for them, they may not reenable their wallets or outright delist Steem.

I think this is an overall negative for Steem. To be fully honest, I hope to see Steem fail as I don’t think Justin Sun’s actions should be rewarded, and there is nothing left there of what I participated in and enjoyed for almost 4 years.