I suspect that part of this reduction in powering up relates to the relative attractiveness of HBD savings. HBD savings with the current interest rate appears to be simultaneously lower risk and higher return than Hive Power, especially if you expect the current bear market to continue for a long while.

Also I'm on the list of top power ups, but in fact I have net powered down in the period. I am always powering down and powering back up as a matter of flexibility.