I like how you broke this down so simply. Many people were very confused (and quite frankly, concerned) by this, especially those who joined in the last 6 months to a year. A lot of those people are no longer even here due to the decrease in payout because the payout mechanism weren't really setup to calculate the conversion using Steem. At least that's how I understand it.

But at the end of the day, they should've just stayed because either way you're earning crypto through content and curation, and Steem will go back up in value sooner or later. This is a long-term game and some players just aren't cut out for it :)