I hope I didn't come across as being too harsh or dogmatic in my opinion. I can sometimes be quite forceful in my opinions and I am in no sense an expert in these things. I think @tombstone makes a good potential point here:
Some have also argued that SBD causes systemic risk. But in that case why not just lower the interest rate (substantially, if need be)? That way fewer people will hold it, but it will remain a selling point for some % of people that otherwise might not consider the platform.
Perhaps that is a better solution which can take both sides of the argument into consideration?
Anyway my opinions are never really set in stone even if I may sometimes give that impression. I am happy to be involved in the discussion because I think that makes us stronger as a community - even if it means confronting things I don't initially agree with.
It is always a learning exercise for me. It would be interesting to get the opinions of some professional economists (assuming we have some in the community).