Simple because the infrastructure cost at that time was very low as compared to what it is now. So for a constant steem price say 0.32 usd per steem, the infrastructure cost in 2016 was very low as compared to the infrastructure cost in 2018. Over a period of time steem blockchain has also grown bigger and it was quite smaller during those early days when steem started its journey.
It must be noted that as on date there are many applications on the top of steem blocckchain and for your kind information most of the applications uses steemit Inc public rpc node, that means if steemit Inc absorbs these costs of running several decentralized application on steem blockchain. These costs were not there during those early days.
Further there were many whales who were early adopters of steem during those time when it was brand new. Even the power down of SP used to take two years during those days.
Therefore all these factors are responsible for the high infrastructure cost and the time has come where at least those who run the application on steemit Inc public rpc node should run on their own infrastructure and it can really reduce the burden on steemit Inc. Further the witness earning has been considerably reduced which is making it difficult to run the server cost.
If everyone will play their parts with due responsibility, then I think steemit and steem ecosystem will be able to sail through this critical period, otherwise do not think that 0.32 usd is a bottom in place.
Thank you and Have a great day.
I think they recruited too many people when the price entered "$ 0.4" as stated on Steemit twitter (now the post has been deleted). So that self-confidence actually destroys itself.
Well, I'm sure their infrastructure at a price below 10 cents still has a small number of people, and at that time investors continue to grow up. Unlike now, many investors leave Steem, and move to EOS.