You really took your time to analyse things here @bbrewer.
I know the persistent fluctuation in the price of Steem/SBD might not give some merchant assurance of accepting it as a means of transaction so that they wont run into loss at the end of the day. But also most of the investors might be discouraged because it might take them like decade to realise their investment back. Even the good and original content creators will be discouraged.
Before pegging SBD @ 1SBD = I USD, they should consider the two parties and make sure one party is not into greater loss at the verge of pleasing other.