I feel the biggest hurdle to overcome for people to get onboard with Steem is not the heights of the payouts. The payouts are so incredibly high, they are likely not making this platform more attractive, but rather give it a 'scammy' and 'fishy' appearance.
Here's an example, this is a post with 15K views, you probably have seen it. When people outside of Steem realize $811 is in fact about $3000 USD, do you really think they'll perceive Steem as a long-term stable balanced community where high quality content is valued?
Does high SBD fuel growth?
If so, does it attract the crowd we'd like to welcome on this platform?
Could volatility in the SBD value and the uncertainty and speculative element of that scare away the people we'd really like to see here?