Particularly when converting HBD back to Hive

It doesn't do that though. stabilizer sells HBD on the market for hive. Then the hive is converted to HBD in the DAO.

It's okay if the feed price is capped, it will just lead to the hive being sent in the DAO by hbdstabilizer to be converted into less HBD. but it will still an mount that isn't losing, it will be breakeven.

The result in the end is pure hive burning, without additional money in the DAO.

By the way, I was still debating smooth about HBD in an old comment thread and I mentioned you. We need steem inflation data, I vaguely remember you were measuring that at one point, not sure if you kept some of that data or if you remember that. I might be wrong about what I remember too, so just wanted to make sure.