I do not understand why you are opposed to SBD conversions.

In general, I'm not opposed to SBD conversions. Reducing debt is generally a good thing. I am only opposed to them when they're doubling (or more) the blockchain's inflation rate, which devalues the STEEM token. That's what they were doing from February until June. As the graphs above show, that seems to have ended within the last week, but I hadn't realized it when I posted the top-level article.

I agree that the timing was probably coincidental. It looks like the SBD supply minimum occurred on June 1, two days before I posted. When I posted on June 3, data was only available through June 2, and it wasn't obvious that it might have turned a corner.