A very nice writeup. My only growing doubt is if Steem will really be there in 5-10 years, or for a lifelong subscription. If prices stay down or fall more, Stinc will be in a real operational pickle, and many independent devs/stakeholders will not find it economically viable to build here, thus driving a large portion of the users/content creators away, leaving the blockchain buried in ashes.

On the other hand, Steem could be revived so that this lifetime subscription principle could be wonderful for those who stuck it out or invest later. Not to be a downer, but this likelihood seems to be shrinking and becoming less realistic, even from my pro-crypto/Steem position.

Agnostic of price, I'm just not seeing mass adoption upticking/happening anytime soon, where the lovely math above would be applicable.