Okay, I really get your argument here! And it is very logical and reasonable. But wasn't HBD designed to be a stablecoin?

Here is why I believe so. You can look quickly to SBD (Steem-backed Dollars), it is a debt to Steem, but was never designed or intended to be a stablecoin, so, there are no efforts to ensure than SBD throttles back to a particular price, sometimes 1 SDB could be as much as 5USD worth and continues that way for weeks.

My argument is this, if HBD is not a stablecoin, at least, it is part of its design to be or at least mimic a stablecoin, and maybe with time, get more stable.

Even though fiat is unstable, it usually remains the gold standard as its instability is not as wavy compared to any crypto. Just saying!