I don't think this will do anything positive, especially the reduction of the player rewards will be counter productive and put more pressure on the team to create enough burn to sustain rewards faster. If anything I would prolong the emission phase to give them more time, which of course would require to reduce emissions now.
Where to take it away? If I had to choose I would argue to slash LP rewards further. There is so much liquidity there, more than required. I believe a big chunk of liquidity providers do it because they will hold SPS anyway, I doubt there are many yield speculants there with inflation exceeding rewards.
Another thing would be to slash staking rewards, but that might be just my bias against passive income in games that is not direct profit sharing. Passive income through print is just bad in my opinion. Stake SPS to earn more rewards for playing and if you don't have time or want to play rent it to someone else.