Not sure about that. Using SPS to pay for delegations on a leasing market you can get quite a bit.

Let's take anti-spam as an example because the amount is large, about 8000 MV, or 4M steem. Last I looked leasing markets were about 10%/year so this is 400K Steem per year. At current prices this is about 80K SBD, while SPS total funding is about 500K SBD/year. So it seems numerically feasible.

Whether stakeholders would vote for it is not certain but having stakeholders make that choice seems better than some unaccountable person at Steemit who didn't even pay attention to the recommendations of the committee they set up to make the delegations more sensible and accountable.