Before printing would stop at 5%. For the haircut to activate we then need a 50% price drop in the worst case. In crypto that can happen but there is some time to react and convert, even though financial incentives are also lacking in the old system.
Since HF20 we print up to 9% at full speed! That means that at any moment a 10% price drop will activate the haircut. And in crypto that can happen any day. There is no time to protect against it and SBD is not a security against price drops anymore. It can tank a few % drops, but quickly crashes for anything more substantial.

Nailed it. These are my thoughts exactly. the devs need to learn a little from MMO Games. You don't simply stop printing and stop delivering $1 per SBD at the same time. At least if printing rate slowed from 5% - 9% or at the very least 5%-10% things would be much better.

Thanks to the broken "Promote" feature we don't have any incentive to burn SBD unless SBD trade less than $1 USD. This is the worst part IMO because if there was a way to burn SBD, we could even sustain the existing SBD system.