That is a concern, though it's really only a psychologically high number than much to really worry about, witness the bearwhale incident where a deliberate 30,000 coin dump only depressed market 6% for half a day, whereupon it rebounded a few percent higher and hasn't been down to that level again since.
However, FUDers be FUDers, so if we could jusssst have that out of the way, it would be nice.
So, everybody be good boys and girls so the party van doesn't have to come get your hard drive, coz we're only working on SR1 coins so far, not seen the totals for the recent round of busts the other month.
You do realize once all this btc is eaten up, the overall value of bitcoin will be higher since more fiat has been spent on it. In a way, this might help the bitcoin economy cause a lot of people will see this as basically a fire sale and will jump on the chance to get a few btc.