Ultimately the deciding factor is the price of steem however it still bugs me that we are still printing SBD under the current market conditions. The updside to printing sbd instead of steem is that we have less liquid steem putting pressure on the price. If we could find a way of getting rid of the excess sbd by burning it instead of converting it everything would align.
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We do have the promotion page which burns SBD, though the quantity is very limited, probably only a few dollars per day. When SMTs launch it will be possible to pay/burn SBD (amount to be determined) in order to create a new SMT.
Still probably won't add up to much but better than nothing.