Voting for this to pass so it will be discussed further but I do not think it has a chance to pass as it is currently written unfortunately.

There are definitely some important points that have been brought up in the comments that have to be accounted for. I think the solution where this has a chance to pass is to tie the reduction in emissions to a long term solution for ranked play. This need to coincide with a reduction in emissions in other areas too but I do not think the total supply is the main issue we need to tackle.

There are really only four sections in the whitepaper that are still emitting SPS tokens. (If there have been changes to these numbers since whitepaper was written please inform me, for instance what has been taken from unallocated and given to soulkeep.

Play To Earn 900M over 65 months
Staking/LP/oracle Rewards 900M over 65 months
Unallocated 270M over 65 months
Foundation/DAO 300M over 65 months

I think its fair to say the unallocated and Foundation/DAO is not affecting the market supply and should be untouched.

So before we start breaking down the Play to Earn section and the Staking/LP/oracle section, I think its important to quote the whitepaper here.

"Please keep in mind that once released, all of these details including, but not limited to, the amount of SPS added to the reward pools each month and how the rewards are distributed may be changed by a vote of staked SPS token holders. All information contained herein describes only how the system is planned to be set up at the initial launch, and it will be up to the token holders to decide whether or not to keep it or change it."

If the community comes to the conclusion that we need to start accounting for increased inflation outpacing growth, then we are within bounds to alter the course of the rewards. I am of the opinion that we need to vote on immediate action to address the inflation so we can make sure we are on the uptrend as this bull cycle gears up. An increasing price would not only reward those players and community members that have hodled but also would do wonders for potential eyeballs from the broader gaming community in Web3.

Sorry for the rambling, I find this extremely important.
So to breakdown Play To Earn and Staking etc..

There are 8 sections within Play To Earn and IMO they should all be treated equally. Each one on that list could use a long term solution so at the end of the 65th month ( which isnt that far away, 2 years left roughly?), there is not an abrupt shift in the market on all fronts at once.

Basic proposal would be to take the allocated amount left starting one month from now and create a bitcoin like distribution. Math would need to be worked out if at initial glance this looks viable, but roughly their would be a halving on rewards per month at a given interval of time for a given interval of time. I think we should be looking at a minimum of a 5 or 10 year runway for all of these items:

Reward Pool
Ranked Battles
SPS Staking Rewards
LP Incentives
Land Expansion
SPS Validator Nodes
Tournament Prizes
Guild Brawls

This way there is no change to ratio of how rewards are earned and no one section is benefitting more than another. Instead it reduced inflation by extending the distribution period to another 5 years.

To clarify, this would not be additional SPS distributed. You would take what has yet to be distributed under the initial whitepaper and would reallocate that amount over a 5, 10, 20, 50, 100 year period, whatever community decides. Maybe we give a few more months of current distribution quantity to lessen the shock or maybe the first 6 months uses a decreasing exponential curve to get us down to a level where the math works and a halving can be used to extend us out 10-20 years.

Yes there will be the argument that people will play less with less rewards, but if selling of SPS is lessened, the price increase of SPS will offset.