Yes, I can definitely see it being done repeatedly especially after powerdowns remove the scarcity of liquid STEEM and bring the price back down to a non pumped up level. The cycle concept you've mentioned in some other posts could possibly be used to create an artificially low pumped-down price to maximize the amount of STEEM you can accumulate in the next phase 1 when converting the massive amounts of SBD you got from your previous phase 3 into STEEM. Every time you repeat the APC strategy could be more profitable than the last time because each time you could use your profits to accumulate even more STEEM in phase 1.