Great post, you make some very good points in it. I think my concern about it is that there could be someone that is manipulating the price of SBD. While that doesn't seem to have an immediately effect, it will probably affect the price of Steem, Steem Power, and SBD for everyone at some point.
There's actually a post about it by msg768 that has some interesting assumptions. https://steemit.com/steemit/@msg768/has-poloniex-been-manipulating-the-price-of-steem-sbd
It's obvious that somebody is "playing" with SBD. Either by ignorance or with the intent of destabilizing the internal workings of the Steemit ecosystem, that we don't know.
thanks for the link, will look at it.