Exactly, when steem and SBD are fair value($1) then rewards are equal to the rewards $ amount...
When steem or SBD is >$1 then he gets more Real USD value from his normal post rewards $ value
This is really hurting minnows when STEEM is say $5
Minnows buy $5 for 1 steem
Haejin votes for $5 gets 5 steem