Steem has been below a dollar per steem several times before. It survived just fine. I started using it in July 2016 when it peaked at just over $4/steem. It dropped pretty low later in the year. Such that once I made it as the number three trending post. The only time in my history on the platform. I made about $100 :)

Months before that would have been in the $10,000 range and it would have been even more today.

But we survived. :) Steem survived and thrived.

Steem is backed by far more than just its price. It is also backed by our creations. That is a pretty huge asset for it that other cryptos do not share.

Though I also have been buying up some EOS over time. :)