The steemit community is what you make of it. Going lower is not a reflection of a poor product. It's a reflection of speculation. More people are speculating that Bitcoin is/will be more profitable...therefore they sell Steem and buy Bitcoin. Hence, the price dip that everyone has been experiencing. This is not just a Steem thing, all Alts are down.

In my opinion, as dire as it seems, this is still an accumulation stage.