I like that one. I've been feeling for a long time that market cap is a bad way to measure the success of a cryptocurrency in the same sense that population is a bad way to measure the success of a country. It is a measure, and it's an informative measure, but it ends up leading us to make apples/oranges comparisons between different things.
Steem vs. Bitcoin seems like a good example. They both have a cryptocurrency attached to them, but aside from that they're very different projects with very different goals. They have similar rates of inflation, but Steem uses its newly-minted tokens in a very different way from how Bitcoin uses its newly-minted tokens. I'm not sure why we should expect market cap to give us much information about which one is more useful.
RE: What is Theory?