token has no value

Media of exchange have no value when no one wants them, and they can't be exchanged. That hasn't quite happened yet to Hive, because there are still people here. There's fewer people every month, and this is why the token has progressively less value. There are reasons for Hive's terrible user retention, and the primary amongst them is the tiny fraction of the inflation that makes it to plebs. We don't need new users that we will just lose. We need to improve the retention of the users we have, and that will require enabling them to attain more Hive.

The KE ratio falsely implicates plebs in the problematic dumping of tokens. If I dump $100 worth of Hive on the market (which I have never ever) it would be ~5% of my holdings. This would impact my KE ratio, which is already above 1 despite I have never sold a single token. However, if a whale dumps $1000 of Hive on the market it would be an insignificant fraction of their holdings, and would not impact their KE ratio significantly. The KE ratio is deceptive, and misleads people to believe folks with high KE's are problematic for Hive.

They are generally not. Whales dump almost all the Hive that hits the market, some tens of $'s every month. For them these are paltry sums, and they do not significantly impact their KE. Last week Holozor posted a list of the top people that have dumped Hive on markets. Almost none of them had KE's over 2.

Tokenomics is a large part of Hive's weaknesses, and it is those with the tokens that manage tokenomics. It's not the UI, it's not plagiarism, spam, or scams. It's avarice above all else that is dumping the price and shedding users. It always has been.