It is a very controversial part of the proposal. There are people on both sides of the argument. IMO - curation rewards are actually doing more harm than good. (I explained my reasoning in some other comments within the thread.)
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I think you are right for the whale accounts. Curation is too easy to earn without reading with a bot. but limiting to under 250k (and still earning curation) might fix the issue.
It would suffer from sybil, whales could just divide up their balance into multiple 200 MV accounts and use the bots to vote with all of them, thus earning rewards again.
@jesta to prevent sybil, can we give moderators extra power? Say, a moderator with 300MV can nullify upvotes with 3000MV. Then we may have the issue that one moderator can counteract another moderator, however that's easier to be solved as it's an issue of a smaller group.
answer to @jesta (nesting)
What if we include TIME in the equation?(!)
200MV that are 6 months old should be "stronger" than 200"fresh"MVs
If users could earn curation for accounts under 250 MV, then the incentive for the whales would be to just split their large accounts into lots of 250 MV ones.