They just see all those illiquid STEEM POWER valued in $$$$$$ (which is possible only because almost no one is cashing out and instead are powering up, except the probably the whales).
No, they don't really pay attention to the dollar value of Steem Power or think about cashing it out. Only crypto nerds think that way.
It is impossible they don't notice it. Subconsciously it is in their eurphoria.
Their subconscious has been trained to know money makes people happy.
Maybe when the amounts get big (successful bloggers, stars, other pros, etc.). The successful bloggers do want to promote their posts though, so they seem to often value moderate amounts of SP for its utility at least at market value, so even then I'm not sure until the amounts get quite large.
But if someone builds up a $100-200 from modest rewards on comments and posts, then they're going to take the liquid Steem Dollars as their reward and not be interesting cashing out $1-2/week from their Steem Power for the next two years. That's just not how people think. The SP is not what they see as the cash reward, the SD is.