I don't want to lol (too lazy right now)  but I believe a valid argument could be made for a "yes" on all three questions.

F it, I'll try my hand quickly.

"Is it a new application or functionality that the world needs?"
Need is a strong word when we are talking about social media, but look at Facebook's market cap.

"does the token and blockchain create value that we otherwise could not?"
Appics would be a stand alone instagram like app rewarding users with their SMT for proof of brain.  IMO Steepshot cannot be considered stand alone thus adding great value to the world.

"is there a good toke and economic structure?"
It's been a few months since I have read Appics white paper, but isn't the token and economic structure the same as Steem?  So @btc-dialog you say @appics gets a "no" to this question yet you invest your time writing a comment on Steem?