Nobody knows what is best. I'm not 100% convinced for eliminating or scaling back the reward pool but open to the idea. I'm mostly just making the bast case here I can for the idea as presented in this post and then people can make up their own minds.

One thing is for sure, Steem has been a massive disappointment and not well received either by the market or by user growth, and people can debate the reasons and whether and how those might be fixable. Beyond the initial observation, It is all speculative though.