Yes that's right, but the $ values we see on steemit.com are not in US Dollar.
If a post has a reward of $10 the actual payout is worth 10 SBD (paid out in Steem) and not 10 USD. If I'm right. The actual payout in Steem is worth less than 10 US dollar at the current Steem price.
Please correct me if I'm wrong :)