I appreciate the effort of a response, @Skye15, but this is not about setting parameters. This is about the fact that the Smart Pricing algorithm is fundamentally and significantly flawed when it doesn't take into account the pricing from at least more, if not most, of the reservations from one's comparable set of properties in addition to the Airbnb reservations.
We do not use Smart Pricing because of this fundamental flaw (and others), but if we were to use it we would have to set the minimum and maximum parameters so high that effectively the Airbnb algorithm would not be used at all. We would, however, like to be able to use the Price Tips (which are presumably generated by the same algorithm that determines Smart Pricing), but as it is these are useless also because of the vast amount of missing data from non-Airbnb bookings.
This is a serious problem for anyone who does use Smart Pricing or depends on the Price Tips. Even if the vast majority of your bookings come from Airbnb, that may not be the case for the rest of the properties in your comparable set. Many of these properties may be using the algorithm to set prices, which in turn influences your suggested prices. So the algorithm is still likely generating your prices based on vastly insufficient data.
The only solution is to allow hosts to enter pricing data for non-Airbnb bookings. Smart Pricing is likely so seriously flawed without a more complete data set that not only is it not helpful overall, but it is actually detrimental because many hosts may believe it is much more accurate than it is.