The rise in value of SBD may be good for now, but if it remains like that for long, it would be bad. Like you said, you can gain a lot of STEEM power by converting your SBDs to STEEM power. But since everyone is able to do so, everyone would end up with high STEEM power, which would in turn devalue STEEM power.
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Yes sir.. you are very much right. Also in addition to this, such high price of sbd always makes steem unstable. Like yesterday, sbd was @ 15$ and steem was @3$. When suddenly sbd dropped to @11, steem went down with it to @2.1$. that is why sbd should be killed.. for good..