Your right, we've go too much SBD but the actual situation will solve that. As you can see here http://steem-supply-steem-supply.193b.starter-ca-central-1.openshiftapps.com
The creation of new SBD decrease because :
- Steem median price decrease
- sbd print rate is at 95%
Top20 can change their steem median price with the bias.
By increasing the steem median price, we virtualy resorb the debt and increasing the reward. By solving the debt problem (under 2%), we fix sbd print rate to 100%
But it's a shot term solution in order to fight against the fall of STEEM