Until not so long ago, after watching the pegging mechanism of HBD fail over and over again, I started to support the idea of removing it from the Hive economy.
But then I began to look at this issue from a different perspective.
Stablecoins are becoming something gigantic in the crypto-sphere, and it's barely the beginning.
While HBD doesn't play in the same league as the major stablecoins from multiple reasons (market cap, broken peg, not backed by existing assets - it's part of a mechanism of debt management), we call it the stablecoin of Hive, and it might have the right name for certain times like the bear markets.
Blocktrades and his team, as well as smooth through his 
In the hard fork that is almost upon us, blocktrades intends to introduce the possibility to convert Hive into HBD at the blockchain level. Currently, only the opposite conversion is possible, from HBD to Hive. He writes about this in more technical details here.
The Hive to HBD conversion will likely push the price of HBD down, because the supply of HBD increases. The question is what happens when HBD goes below $1. Well, this operation will fail if it would result in breaking the haircut rule, thus keeping HBD from crashing below $1. That's how blocktrades intends to deal with this eventuality.
I don't know if these ideas (reverse conversion + stabilizer bot) will keep HBD price loosely pegged or not. But they are worth trying. Don't give up without a fight, right?
Blocktrades wants this to work so much to the point he unvoted all other proposals and only votes for the stabilizer proposal now. He explains here why.
Let's wish them good luck! Hive deserves a working almost stable coin, but not a joke that can be pumped or dumped whenever someone with a little bit of capital wants to make a quick profit.