HBD has been 2-5% below the peg for the past 24 hours and traders could profit from this if they were willing to wait out the 3.5 day conversion. But a lot of Hive investors don't want to try to profit in this range (especially because these drops below the peg tend to happen when crypto itself is dropping, and they are therefore looking to profit from an expected rebound in crypto pricing).

The stabilizer, by contrast, is operated a little less emotionally (it is programmed to not have expectations about the future price performance of BTC/ETH etc) and it assigns an additional virtue to maintenance of the peg price, so it keeps operating in tight ranges around the peg, where most HBD traders just don't seem willing to play as much. If the psychology of those traders changes in the future, the stabilizer functionality will become less important (although it will still have an extra advantage when HBD is just a little ABOVE the peg in the 1.01-1.05 range, because of the burn fee traders have to pay for conversions in that direction).