Great post and some really insightful points here.
I agree that we need to focus more on building applications rather than just playing with the tokenomics. Building a stable Hive economy can only be done by relying on HBD as HIVE is way too volatile for now.
Have we ever had a marketing proposal designed to target them? The answer is no.
We had one: https://peakd.com/proposals/@behilarious/dev-marketing-proposal
Despite enthusiastic feedback, it failed to rise above the HBD stabilizer proposal and was not funded.
... for every HBD transaction, HP is required somewhere.
That's not really true. An account with 0HP can make some episodic transactions without a problem, especially if they are only financial transactions that are cheap to broadcast.