It sounds like a big change but in reality it's not, the inflation that was there only served a psychological purpose it had no practical utility. And the long lock time period was there to prevent the consequences of inflation ( something totally unnecessary). The big change is a psychological one.
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I'm wondering the same thing. Will the result be a wash for SP holders on one hand, but a stronger market presence for Steem as a crypto (raising all ships)?
SP holders today are devalued at about 10% per year, this proposal means they will lose only about 8% so it looks less attractive to SP holders but technically it is more attractive.
Right, and not quite. The interest paid today is higher than the 100% inflation (it's around 140%, I think). The 90% long term interest isn't scheduled to kick in until next year. So current SP holders won't get that huge advantage. Still, the increase in Steem's value if it becomes a crypto-contender can make up for that. Looking good this morning.