No, it isn't because the amount of dollars in the supply exceed 10% of the value of the combined Hive and dollars market cap. So the price feed stays high at 27.1 cents, even as the real value of hives and dollars go down. This is by design. There must be nine times the value in Hive for every dollar for the mechanism. We got into this mess because the chain printed too many dollars and it continues to do so even now.