You forget that SBD will go back to 1 Dollar in the mid to long term. Steem could profit from that because autors earn more money for their posts and use the SBD to buy Steem and use it for powering up. Here is how the regulation mechanism works: https://steemit.com/steem/@sevenseals/why-the-steem-dollar-sbd-will-fall-back-to-1-us-dollar-the-self-regulation-of-the-sbd