I think there's too many of it, even though it's supposed to be less pixels than clockwork.
It's just that people are trading them too much, and that might be it's fall. It's basically in every trade, and i think that it's just another over demanded weapon. But 30 - 40 seers would be okay, not the value of clockwork.
For example america, you don't see many americas and it's supposed to be the value of pixel. If you make an america trade you'll get 0 of 1 if you are lucky. And whenever you ask an america owner its usually not for trade.
But whatever server i go to with a decent inventory the owner has 2 or 3 pixels, and if you make a looking for pixel trade you will get 4 - 5 owners.
I really don't think it should be valued so much because of how common it is, i honestly think that the next clockwork should be america.
(I am not an owner of america, but i owned pixel but traded it away recently. So i'm not biased at all.)