Why do you say Steemit, Inc. will flood the market with SBD?
Even if that were to happen, in the hypothetical example I gave at the end of this post, the worst case scenario is the SBD price falls from $1.20 to $1.00 or less. Even if the SBD price falls to $0.70, you'll still be able to turn your 10 BTC into 16.7 BTC, assuming everything else in the example remains the same.