RE: Liquid Steem Rewards are Here - Math Time!
There's the suggestion to increase Steem's price, which will then lead to more SBD getting printed (because the higher Steem is worth, the more STUs are handed out, and the more SBD relative to Steem that pump out), which should hopefully lead to SBD's price going down - increase supply, lower demand, lower prices, right? Well, I've had some thoughts about that before.
Ah here you are talking about the feed price. I actually think this is a viable option if we want to keep in the SBD zone. But you're right about one thing-- it's still so susceptible to a pump that it could send us into longer term STEEM printing than we'd like. I'd go with the wait and see approach, as you are suggesting.
(There are by the way some witnesses that want to tweak these thresholds to give us even more room, but that is an actual code change of the steem blockchain itself, and unlikely to happen. This along with reverse conversions code and all sorts of fun stuff...)