I think you are right with
having a useful token for commerce represents vastly larger upside potential for both growth and value.
However having a large community also is important for that.
What speaks against waiting 2-3 months till SBD is closer to 1 and the implementing it?
Nothing at all. That's certainly an option. I just happen to think that testing the robustness of protocols/parameters in extreme market conditions can provide useful feedback for decision-making.
Let's say that a STEEM --> SBD conversion is implemented and the markets quickly correct to a relatively stable peg near $1.00 after trading at 500%+ for a couple of months. I'd say that the function worked very well and could be further tested/tweaked for larger-scale adoption/use.
It's the extreme market conditions that create the pegging issues. So to me, there doesn't seem to be much sense in waiting for things to return to low volume and less interest to then test the robustness of protocols and parameters. If we can test when the market is highly active and volatile and find success, then we can mostly be assured that the new implementations could work fairly well against similar future scenarios.