The short answer is yes, demand for the BitMindshare DAC equity is based on the dividends that are earned by BitMindshare.com powered by MyMindshare.
Here's how it looks from my end:
I have created an account in MyMindshare with the username bitmindshare. I have granted that account affiliate license #15 and created the affiliate site at
http://bitmindshare.mymindshare.com/ (this is what will become BitMessage.com when the domain is registered).
Now, everyone and everything that registers at the affiliate site are tagged with #15, which means that when revenue events occur, the commission is paid to the bitmindshare account.
BitMindshare the DAC needs to be programmed to periodically cash out the bitmindshare account. This means that the DAC needs a bitcoin wallet. Then the DAC distributes the revenue by purchasing it's own shares and destroying them.
So how is demand created?
Let's say that the DAC doesn't distribute dividends. Instead it just let's the bitcoin sit in its wallet. Let's say that there are 1000 shares of the DAC. If there is 1 BTC in the DAC wallet, then each share is worth 0.001 BTC. Now let's say that it is anticipated that BitMindshare.com will generate another 1 BTC in one year, increasing the value of a DAC share to 0.002 BTC -- the overall value of the DAC increases to 2 BTC.
The current owners of the DAC shares are not willing to sell for less than 0.001 BTC, but they would be willing to sell for something more than 0.001 BTC. Believing that the value of a share is going to double in one year, how much would you pay today to own a share? If anyone is willing to pay something, then we have demand. If anyone is willing to pay more that 0.001 BTC, then we have a market for BitMindshare DAC shares.