Why is SBD worth more than STEEM ?
IMO it is mostly STEEM is undervalued and the supply of SBD is linked to STEEM (the supply rate is also too low, but that's perhaps secondary, and also could be more flexible).
My reward burning initiative (see posts in my blog) will help address this by introducing a missing feedback mechanism. That is, a portion of the overvalued SBD is used to buy and burn STEEM, which should both increase the price of STEEM and decrease the price of SBD. The effectiveness of this will depend in large part on the degree of voter support.
Given the size and strength of the community and the features of the working blockchain, STEEM should easily be a top 10 blockchain. The market needs a little help in recognizing this.
I just stumbled upon your reward burning initiative and have to say it is pioneering. There really should be a platform-wide option that allows all users to support something like this.
For example, for users to be able to flag others, they should be required to put their money where their mouth is and burn a minimal amount of steem or SBD. This may mitigate the flagrant flag wars that are going on right now, as the reward pool abuse becomes more evident to the community.