Hmmm, maybe I interpreted it wrong, or I’m blending what BR said with information from other sources, but:
IIRC, higher androgen levels have been shown to increase SHBG levels. The ‘problem’ is that most steroids users (and I include myself in that bracket) believe that SHBG is ‘bad’ because it will render their androgens ineffective. That is only true to a certain point. Whilst bound to SHBG, androgens are ineffective at the AR, but in order to be transported around the body, we need SHBG at a transport protein in the blood to deliver androgens to target tissue.
The problem (as I see it) would be much more manifest in the natural or recovering trainee, since in the face of normal or reduced androgens, elevated SHBG would render too high a proportion of existing androgens impotent, since they are bound up.
OK so basically for the natural trainee it does matter, just not as much for those taking AAS.
As for if AAS increases or decreases SHBG, i’m reading William Llewellyn’s Anabolics 9th edition and he says AAS lowers SHBG but that’s my only source for that info.