wherever those freed up rewards are headed, it isn't into the accounts of the rank and file.

It is though. Mathematically it is literally going to increase every other payout, including the small ones. If there is enough taken off of those big milking payouts (and the experience of the last few days suggests this is very possible) then it can more than make up for the effect of the curve on the rank and file, or at a minimum reduce that effect greatly.

Your attitude is defeatist.