I feel that people will put more effort in their post if everything is curated manually.
Some will, many will just do what they do now regardless.
Maybe a lot more posts that were not rewarded at all will get some rewards.
Potentially, or people will close their circles even more tightly. In the past and before most of the auto options were available, the voting was very, very narrow.
On the other hand, if I know that all of my posts will earn, say 5$. I will not put any more or less effort in content.
I think you would find that "real content creators" (people who value their work, not just the votes) will put in effort regardless. I know that at the moment I will get decent votes, but I have produced content like this or of higher standard for far, far less. As said above, people who value their own content, will produce despite rewards.
There is a long way to go in many areas for sure.