You're assuming that a non-pumped HBD will crash as much or as easily (or at all) as one which is pumped to $10+. I believe this is false.
Yes, HBD has an amplifying effect on HIVE price changes, both positive and negative, this is the nature of leverage, and can't be "mitigated" away. You take the bad with the good. The idea is that over time, the good outweighs the bad.
In reality the leverage ratio is currently tiny (1.1x max, given the 10% cap), and even if the cap is increase the ratio will still be relatively low. Yes cryptos boom and bust, but the leverage effect of HBD is always going to be a relatively small part of this.
The benefit here is attracting net demand of capital into Hive coming from demand for yield. Again, that's a large net benefit over time, but it won't be a straight line up (and you can't make it so), it never is. There will be volatility to withstand (or not, as one chooses).