Even with Revolut I get around 4% on USD which is paid daily and can be withdrawn at any moment. Then there's brokerages which pay around 4% - 5% on uninvested cash. Not to forget that places like Coinbase are a safer bet at similar yields. You're right that it would just make HBD and thus Hive a bit less attractive.

Though I doubt the yield here has made a big difference in bringing new people in to farm that yield. It really would just be people already on Hive that decide to cash it out and send that money elsewhere where the yield is similar and risk significantly reduced.