Not only will the changes kill content; they also eliminate any remaining reason to own SP.

Actually, quiet the opposite IMHO.

Currently those without SP can easily upvote whatever with bid bots.
They earn (see: negative cost of promotion which itself is riddiculous).
Bit bots earn. Content, thus authors are irrelevant.
Even great posts earn very little if you look at organic vote values, because SP holders can easily profit on a behavior we don't want to see here. We want them to profit on a desired behavior. Pretty much this:

encouraging more of the behavior that we want, and discouraging the behavior we don't want