I guess it started as an intended effort to stabilize the HBD and ended with the opinion that buying back HIVE with HBD to both add buying pressure while also returning excess value to the fund had more benefits to stakeholders than the remaining proposals.
I don't mind returning more back to the DHF when the HBD is high.
That is an excellent point. The peg is not working but there is a ton of money heading back into the fund.
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The idea that the stabilization part might not work and the benefit would be achieved anyway via added demand for Hive was already recognized when the original proposal was made, if not earlier. See this comment for example