That's likely not as simple as it sounds, destroys an enormous amount of value, and may cause an enormous amount of inflation. If it's done without compensating HBD holders, there would still be those prior risks, but the main damage would be to the integrity of the system (it would be like Bitcoin miners forking to neutralize a huge amount of bitcoin).

Aside from the inherent value of having a stablecoin, the mechanics of HBD work to remove Hive from supply, creating price pressure on Hive (removing over 8 million hive in the last few months alone). That will no longer exist if we remove HBD entirely.