It is important to know that the 20% is paid by Hive stakeholders, as Hive is the collateral of HBD.

Is this correct? So how much Hive did it cost to print 20% over the last year?
I did the math on this in the post you linked and concluded we printed close to 0 Hive.
Could have been slightly above or below zero.

In any case, 20% on a stablecoin is not sustainable.

You are saying that it would be impossible for HBD to maintain an average growth of 20% year over year. Do you really believe that? Bitcoin has sustained 100% growth year over year for a decade. There's a lot of room for growth in crypto, including HBD. 20% is not a lot in this context. These claims of 20% being unsustainable are based on nothing except for the fact that UST crashed to zero. HBD is not UST.

But perhaps everyone already knows my take and I should pipe down already.
Unclear.