It has lost only 6%-8% value of its ICO price because it's value is fixed against Ethereum with calculation as 1 ETH= 100 BNT but it is Ethereum which is cheaper against fiat that's why the difference seems this deep. We need to wait for good times which will come soon.
Which of the bush calculation are you doing, so if Ethereum goes to $1 it and BNT is $0.009 will still be 10% drop in value. Some people converted their BTC and Fiat currency to Ethereum to invest in Bancor ICO because it is the only gateway to invest into the project. I for one is looking at the price from the BTC ICO from from which I joined the project which has dropped more than 45% in value