Well I agree it is inflationary, but I don't agree it is the same as if traders do it.
When traders do it they usually try to get it a profit, so it is very inflationary. However, if the DAO does it at a loss, it would be less inflationary, because that loss is technically a burn of HBD which won't get converted to extra hive.
Edit- actually the HBD burned are already in the DAO, so I think I'm wrong about that