What you're saying holds true for a strong market, strong demand but it's still ass backwards, the cost of production dictates prices because it's a competitive market, the cost of production has been driven down close to its limits. That doesn't exist in PoW crypto, the cost of production adjusts to meet demand while the volume of production remains unchanged regardless of demand.
It's not "ass backwards".
"Cost of production" is a total mis-characterisation of what's going on here. We are not "producing" anything. That's a manufacturing model where a producer profits according to the difference between cost of production and price at market. That model bears no relevance whatsoever to the POW economics. The "cost" is not an expense, it's a transfer of capital into the chain.
If you use that flawed "manufacturing" model to design a blockchain protocol then you end up with priorities that generate a block as cheaply as possible. i.e, the block has a LOW PRICE. Ergo stores NO VALUE. Thats what's happening to Dash - we are tanking in marketcap. We are tanking in network participation (nodecount). We are tanking in competitively (ranking). We are tanking in dollar ROI. In other words in every single metric that you and originally Ryan claimed to be targeting with this high masternode reward ratio strategy.
And all this with the LOWEST PORTION OF MINED SUPPLY of any POW coin on page 1 of CMC.
The "production" model doesn't even apply. There is no "company" to benefit from that low production cost. The 100% profit on masternode rewards simply leaves the network forever upon realisation, in a chronic haemorrhaging of marketcap.