Right, this isn't addressed at the current situation (which I see being handled by both @sbdpotato and normal market dynamics) but the well known vulnerability to SBD becoming overvalued, which has happened repeatedly and is almost sure to happen again at some point if the structural issue is not addressed.
BTW, the STEEM price is only about 18% away from returning the SBD peg to $1, and that number steadily decreases as more SBD is converted (by @sbdpotato and others). That's a bit of a move, but hardly extraordinary. It was briefly there a few days ago, but the higher price just didn't hold.