When the decentralized Hive network takes a loan in the form of a bond it creates demand for our debt. This liquidity event only does one thing: increase the price of Hive. Meaning anyone can sell Hive at the higher price and extract value from the loan we all collectively just took.

My brain was mush when I wrote this so should say

literally anyone with Hive can extract value

The point I was getting at is that if the bonding system is consistent and not intelligent then it may not help the network as much as it could. For example, Hive doesn't need to take out loans after the price has gone 10x, but a bonding system might just pump them out automatically on a schedule.