I dont understand your point??
What do you mean they shouldnt have traded to fiat to begin with. Always believe in BTC.
If you dont use an exchange to trade then you shouldnt have even had your coin there in the first place!

People who were in fiat at the time were in fiat because they were probably half way through a short trade.
Given slightly different timing we would have been back in coin and better off than people who hadnt done the trade in the beggining.