"reduce the number of content creators, and increase the number of curators"
That is exactly what it should theoretically do. Because if you are a small account and don't want to invest into the platform, your votes are now worth basically zero. So why bother posting? If it is worth nothing anyway you can still post on Facebook...

In my opinion, this HF was a clever trick to pump up the price, because investors will profit, small guys will lose. Then after the price is stable above 2$ again, start the onboarding of the masses...