I do agree in one sense, but in another sense, who is going to buy 500 Steem to make themselves an instant minnow if Steem is 10 dollars a piece and inflation is 2%. It seems more profitable now at 20% inflation and 40 cents because if it moons, that would be nice. I guess the powers to be have a target of active users in mind before changing it.
Maybe that's also why they are delaying SMTs. It's pretty amazing that some witnesses just managed to make a very similar thing on their own without millions of dollars of Steem (I think).