Hi @tarazkp, I have read your post as well as many of the comments. It seems like most people are in favour of your proposal. I can see some advantages in regards to cleaning up the trending page and creating more realistic expectations in regards to rewards.
Your proposal also takes anyway incentive to both invest and participate in the platform. When I write posts or create contests I give back by upvoting comments and giving out prizes. To do this under your proposal I will be losing opportunities to earn from locking up my Steem power. We need a system that incentivises activity not disincentivises it.
Delegating to bots produces a good ROI because of the many large accounts that are not active. If these accounts lock their stake, the ROI will fall. It could very well fall below the inflation rate unless the witnesses don't mind getting a smaller cut of the rewards.
The value of upvotes of those remaining active will be reduced because of the high passive income. This also reduces the incentive to participate in the platform.
You are losing opportunity now as am I from not delegating SP to a bidbot. If everyone delegated their stake to a bidbot the system would be just as dead yet, 70 percent of the stake isn't delegated to them.
The ROI on bidbots will mean that they are unable to operate. However, there are other factors that come into play and that is that the apps become much more attractive and smaller users actually have a say about the platform view, something they don't have now unless they buy votes.
The other thing people aren't considering is that the apps will not lock up their stake because that is their attracting power at this point. This means that the apps with delegations become transformative forces and the ones that are able to attract users become targets for investment. This is an attention economy and at the moment, there is very little attention paid to it. Taking out the maximizers means that now there is space for organic growth once again, something that is sorely needed otherwise the experiment fails anyway.
If everyone locks up their stake, I guess that means that the Trending page is mine as I will be the only one who doesn't. When it comes to the value of my holdings, maximizing my stake returns isn't not going to maximize the value of it and I am not the only one to think this way.