Your analysis is flawed by not looking at what the steemit account is actually doing. It is of course owned by Steemit Inc. as you suggest, and if you look at the account itself it is holding a huge amount of Steem in reserve, and only selling via Blocktrades and the internal market.
RE: Massive power-downs versus less investment. Perhaps the reason why the price of Steem could further take a hit in the coming weeks and why it's a win-win situation.