Dilithium demand is low, right now, too. There are a lot o fgeared out VAs playing right now who honestly don't have much to spend dilithium on, and quite a few of them planned ahead and burned crafting materials and emblems on stuff they might want later. And most of the new stuff people want anyway isn't even on Dilithium, but STF loot.
The system has only just gone live, it's going to take time for it to settle on any particular rate, however prices have been steadily coming down. On the first day I was seeing mostly the maximum rate on the exchange (500 DL for 1 CP) and its slowly (or quickly depending how you look at it) come down to around 420/430 DL per CP.
With everyone selling those mounds of DL they go tin the conversion I'm not surprised its so high but I'm going to sit on my "modest" fortune (in the 0.78% ) until the rates reach somehting I'm happy with, I got plenty of ore and auto refine to keep me going too.
Don't forget, everyone who made VA with a new character on Tribble before the build went live is getting 80k refined dilithium within the next week. That's going to be a game changer. Though, the real game changer as far as dilithium rates go comes on the 17th of next month. Expect newly christened silver players to start converting $ into C-store points and then trying to convert those into a lot of dilithium very quickly.
Personally I believe the bean counters want the demand for C-Points to remain high and the supply low. People don't like to wait and the fastest way to get stuff will not be from the exchange. It will be from buying C-Points directly.
And I'm not convinced that stipends will make prices much better. I plan on saving my stipends to get stuff.
Plus, I wonder if stipends are even going to be allowed on the Dilithium Exchange. They are not C-Points. They are "Promotional Points". I'm sure there was some debate internally about allowing stipends to be exchanged because those are truly free and it's like taking money out of PWE's pocket.