"I don't see why the market price went up above 21% except out of desperation or to run token based pyramid scams because the money is flowing in now and the markets are hot." - that is speculation though, we don't know what they are using it for but it could be for a central community account to support authors in their niche, or a game that needs SP for Resource Credits to issue memos and post custom json for game activities, or just a bunch of people that pooled some funds to see what it's like to be a dolphin on Steem for a month, there are lots of good usecases we could think of rather than first resorting to assuming the negative.

In any event if it attracts investors to buy Steem and power up to reap these high APR rewards, then awesome, if it causes existing Steemians to power up and lock up their stake in Steem to fill these rather than dumping into BTC then awesome again.