I am a fan of the Bitshares platform, but lets keep our heads on.
First, there is no such thing as a "standard PE ratio". Valuation is much more complex than that, especially for a business in a highly dynamic area of innovation where leadership can shift quickly.
Second, its way too early to talk pie-in-the-sky numbers when there are still very basic issues that need to be resolved, contrary to some other posts I've read claiming an early victory. At this point there is still no mechanism in place to ensure that BitAssets will remain close to their pegs. Last I looked the highest bid on USD was 11% below the feed price, for BTC 12% and for CNY 15% below. The current mechanism to generate yield on USD (being based on a transaction fee pool) could never ensure this pegging, and is effectively subsidised (I think unsustainably) by BTSX holders. Further, there remains very limited liquidity in these markets and high spreads, which makes them unattractive for traders and potential commercial users of USD. Yes, I know its all still early, and I don't want to be a wet rag. But let's keep our heads focused, continue working as a community to get this to work, prove it to the outside world and then the rewards will come, whatever they may be.