A large payout on a post only effects everyone else’s payout by a tiny bit and so we’d rather let it slide

Yes I understand that people who aren't significant stakeholders and are only on the receiving end of rewards wouldn't care about excessive rewards, as long as they still get some. However those of us on the paying end of rewards do care, and no amount of complaining about downvotes from the people being downvoted is going to make us stop caring.

No, I don't think a few tweaks is going to do the trick. We've tried that at least 3-5 times with little overall benefit. It needs a more substantial revamp, but meanwhile it benefits from the limited restraint of rampant overrewarding that comes from downvotes.