Agreed. No one cares about the fundamental value a coin brings to the table until major exchanges face catastrophe and there is a huge panic. But when that happens the floor on some coins will be much, much lower than for others, and hopefully the abysmal ones will never recover, considering they bring little to no benefit to society from their existence.

I am not to eager to see the look on some people's faces when they find out that USDT is not convertible to fiat. Only the strong will survive, and hopefully all it will bring is a temporary discount on the price of projects like steemit, not a general trend away from widespread adoption.