Yes, I think in the short-term, the market is irrational, and can stay that way longer than you can remain solvent. In the long-term, I can't see any explanation for SBD remaining above $1 worth of converted Steem, especially given how fast the total supply is increasing.

You are correct this mirrors the general correction. The proof will be if SBD can resume a bull run when other coins with actual projects/uses do. I think it if does, it will end in tears for speculators. We'll see.