I don't see it that way.
This so called experiment has some possible effects as well. Many dolphins see their votes make a difference now that the whales don't vote anymore. Many new users can earn a few cents on a post now without being lucky that a whale found their post. This attracts new users.
On the other hand, I agree with you that this experiment/war must stop as soon as possible. We all hate to be downvoted and as you said, many people are refraining from posting now. This can't be good of course. The proposal by @timcliff could stop this and fix the problem with the whales having to much influence as well.
Good luck with that.