How would this change affect author's and curator's rewards? If authors and curators would get more, then I see it as a good thing but if all of us would receive less, in my mind it's not good.
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No more author/curation rewards on Steem. Would be handled by an SMT.
But what would a certain SMT be worth? At least now Steem is worth 0.34 USD. And SMT's would probably need to build up their value from scratch as we can already see with tokens on Steem Engine. More discussion needed. This is too important for entire ecosystem.
Steem is worth what people are willing to pay for it. This will be the same for every SMT which is following.
If Steem would no longer come to authors from rewards pool, 2 contests I run would need to have their token for prizes on Steem Engine, I think. Would you agree?