I might be wrong but I think I noticed a subtle change of TM's wording from "we need more supply" pre-pump to "we need circulating supply" post-pump.

I have read "I am pulling out my HBD from savings even though I know I am late for this pump" about 34 times in the last 24 hrs. So people seem to be gradually picking up that they only need to catch $1.5 HBD pump every 2.5 years to beat the 20% APR on savings. The liquidity is going to improve along the learning curve.

Bonds and savings are not bad. Some people just won't get into trading like that. Bonds and savings are for them. The damage comes from overselling the product to people who could have been actively defending the peg.

Now imagine an interface that lets you split your 1k internal market overnight order in dozen increments in a range based on $1.1-$1.9 HBD pricing in a single button click. Who needs AMM then?