The margins are lower though? Higher risk?

Maybe. I think in terms of getting a huge fast pump SBD is more likely than Steem just because there's less of it. Plus there's a lot more downside risk in Steem, because the SBD haircut doesn't hit until the ratio is 10%. So it should be at or near $1 minimum for a while even if Steem falls farther. If all cryptos go up simultaneously, probably both Steem and SBD will go with them somewhat equally. I have a preference for holding liquid SBD over liquid Steem in the one-or-two months time scale but I keep thinking Steem is going to go back up to $1.30 and I'll be able to get a better trade.

How many do you think will be worse off considering that many are already losing value?

@eonwarped has been working on this question, and probably has a better answer than I do.

Why would it? Do you have a post on it that I can read later?

I think that fixing the thing where immediate self-votes chained with late bot votes can return 1000% on the self-vote will remove some of the incentive for people to lease.