Edit: since Oct. 14, it appears the market cap has declined more slowly than the price, but this doesn't appear to be widening. Thus is probably one some "one time" event of some fool pouring money into Steem, probably that Chinese n00b bagholder whale. Perhaps there are some deals being made made behind the curtain. Any way, none of that can help them. It is fundamentally flawed. Radical changes to the Steem blockchain to remove voting, inflation only on liquid Steem holders, etc.. is IMO very unlikely. Even @smooth seemed to state in comment of the prior 2 pages that it is difficult to get radical changes:
I'll definitely bring your idees to the attention of the devs if I ever have the opportunity to discuss this sort of thing with them. Understandably there isn't generally a large appetite for major changes, but the more their ideas are apparently rejected by the markets the more there could be some receptivity. Maybe (in fact there is often a tendency to dismiss short term price movements as not indicative of much of anything, and there is a lot of validity to that).
Note there is another remote possibility. That is someone wanting to buy up enough stake to take control of the protocol, remove the inflation and somehow pump it. I find that to be very unlikely (for numerous reasons[1]), but I should mention it.
[1] They would need developers. They would upset the political applecart. Steemit controls 40%. Etc..