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RE: Has anyone ever seen a witness do anything for the betterment of Steemit, if not... what's the point?
Hmm, I really like your points, but why do we still need the Steem Dollar exactly, that point was unclear to me?
In ideal conditions it's preatty neat tool with great set features.
In current (far from ideal) conditions it plays role of "worth at least 1USD" token. It's going towards the peg, however it takes more time than most of us expected. (It's natural direction because the more it's worth the more USD are needed to keep it above the peg, so naturally, over time, all "excessive" demand would be satisfied).
Well, even now it's good to know that if you get 10SBD, it will be worth at least 10USD.