I agree that PoB hasn't panned out as expected, but I do think that there is still a fair bit of game in it that has value if there was adoption. I am not sure what lowering the supply would do for adoption of the social aspects of the platform and what the knock on effects would be. I am guessing then that the RCs will need to be adjusted to suit also - lower transaction/action costs?
RE: How viable is Steem as a currency as the Steem network must constantly create tokens to reward bloggers and enable votes (causing lots of inflation)?