Respectfully, I very strongly disagree with this lowering of expectations.
There is a natural demand for DAI, currently it overshadowed by all the holders being aware of the incredible gains they can make by trading out to Eth.
In my view the stability fee (which I’ve taken to calling the instability guarantee) is firstly a lagging control and secondly needs to move orders of magnitude more than it does at present to dissuade speculators from exploiting it. If you can make 50% in a week, even an annual stability fee of 500% will not dissuade you from the risk taking. The pressure will remain downward.
DAI is worth one guaranteed dollar of collateral. This is baked into the system. The price of DAI is correctly not directly fed back into the system, but there are attempts to move it back to the $1 mark with stability free votes.
This is entirely the wrong approach in my view. The debt ceiling can be set to below the supply which can guarantee the removal of all excess supply from the market with near immediate effect. For some reason this is not popular among the executive who now control the voting and enacting of policy for maker (another, even more concerning development).