I think it's important to note that "they" don't plan to do anything. They offered the idea to the community and everyone is free to vote on the proposal. If you don't like the proposal, you can throw your staked SPS into the ring and vote against it, and in case there is enough opposition, it won't be implemented.
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I'm a silver modern player and all I see this doing is reducing my rewards making the investment I put in worth less and making it harder for me to advance. It also consolidates more SPS wealth to whales. So the rich will have even more power to influence proposals.