The deal that HBD is offering is better than all bonds and arguably better than most stocks, especially for non-gamblers. To claim that this is "okayish" because crypto degens expect insane returns is unreasonable.

No, it isn't. Just because you only know about US financial vehicles and know nothing about outside of it. Doesn't validate your argument. There are much better financial vehicles than HBD, with close to similar risk profiles.

It does not happen with HBD.

Past performance isn't an indication of future performance yadda yadda, tell me what happens to HBD if Hive crashes pretty badly and in dire straits so much so that HBD depegs?

Anyone who was depending on having 15% more gets totally screwed over when that happens. It does not happen with HBD.

What if I was depending on getting 20% but witnesses decrease the APR to 15% at a moment's notice? Or if they do as you implied and "rug-pull" the APR?

Tell me how in a scenario where I decided to put 100K USD into HDB, and witnesses deciding to "rug pull" the APR, HBD is more stable and predictable? And also comes with a guaranteed loss of some amount from the principal.