To my eye the Whitepaper is pretty clear about what the stated intention and usage of the SBD is. That said I would not call the current situation "Normal market conditions" by any stretch.
Maybe there is a pragmatic solution and the next hard fork could make the SBD redeemable for $5 worth of STEEM. Basically ratchet up the flooring mechanism. Just off the top of my head that idea :)
Therein lies the weakness though, from a marketing standpoint.
Referring to them as "Steem Blockchain Dollars" to me is a misnomer, implying that their value is $1 USD on a surface level. And indeed as articulated in the white paper it appears that the intention was for their value to remain steady at around $1 USD. The free market has shown that this is simply not feasible.
If the steem blockchain is going to advance towards being among the top cryptocurrencies and attract mainstream attention, the prevailing confusion between steem and steem blockchain dollars is going to have to be sorted out. This can start by reassessing how SBDs are described to the lay user.