Legacy economics definitions doesn't really work with decentralized systems.
Suply and demand regulate "debt payment" cycles here, and interest varies and each person sets it by choosing moment of conversion. Payment of debt is just a dent in token's price during bear market when incentive is higher to turn HBD into HIVE. It's yet to be discovered how these systems exactly operate in comparison to the old thing, which is SO excting!
However, there is a lot of valid points there and I find your text quite insightful. Cheers!