A little bit better might be to say that SBD is a product that's half successful. The basic promise that Steem DAC makes when marketing the product, has two features: Price of SBD won't be less than a dollar, and it won't be more than a dollar. It has kept the peg downwards, but the upward peg has been more or less off too long time.

Usually companies/organizations are not successful in the long run if they offer failed products for the markets. That's why I think it should be removed. I don't think Steem community has enough skills to rewrite the system and make it work as promised.