I agree 100 %. Steem is not an investment. It's speculation and people will need a greater fool to pay more than they did to earn money. More than 5 % more every year but infinite growth is impossible. I wrote a post here about why the economic model of steem is flawed. I hope you don't mind that I'm posting the link here. If you do I will remove it but I think that what I have written is relevant to what you wrote.
https://steemit.com/steemit/@jimmiandersen/how-can-we-make-steem-sustainable-in-the-long-run
RE: Don't Buy Steem and Steem Dollars