The way I understand it is that the SBD is supposed to be worth at least $1 of Steem. Not pegged to one dollar.

With the current price of Steem and Value of the Steem dollar, this is essentially still true.

Even in the wallet it says, "STEEM DOLLARS
Tokens worth about $1.00 of STEEM" nothing about a USD peg.

Not to mention the higher the value of the SBD the better it is for content creators. I don't get how anyone can complain about this. It's serving it's purpose. It is worth about $1 of Steem. The actual rate is about 0.85 SBD per 1 Steem. But it's very close.