We did get our wires crossed. I think your way of looking at this is better.
It will all be about perspective but this metric dropping will mean fewer people are getting more of the rewards which is not a good health indicator for Steem.
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Although it's fewer proportionally, while the userbase has been surging. The absolute numbers are looking good, the money is going to more people. Hopefully the proportional numbers will balance out again when we are outside of such a surge.