In our bitcoin economy its far far worse than that, its more like 99% speculation and 1% trade. So anything that gets that ratio down, even if only temporarily, I can only see as a good thing.
Since no one knows what the heck bitcoins are worth, I think speculation is actually the most important activity for bitcoin right now as we go through the slow process of price discovery. Once a price range is settled on, THEN commerce can start.
Seems to me that almost all speculators think they're worth between $0.50 and $10. That's a smaller range than April-June, where it went from $0.60 to $30. It's slowly getting better, though I think too slowly for everyone's tastes. Bitcoin is new by any standard, with the first significant press was in June, and we just need to give things time to settle down.