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RE: The New '5 Vote Target' does NOT Reduce Rewards - It Democratises Steemit Curation!!
The 'slider' is reducing users voting power. A 20% vote, is voting with 20% of a users voting power. Thus, 20% of the rewards that a 100% vote would receive, and 20% of the rewards allocation the beneficiary receives. They can spread their votes out more (correct), however overall, it does not impact the curation rewards, or the influence a user has on the Steemit Platform.
I didn't account for this, because the net impact of the slider is zero. It's only a means for spreading voting power. Active users are now spreading a lower level of voting power.
From my experience, over the past few weeks, most 'Whale' votes I have seen have been below 100%. See here
Yes. For most purposes, voting at 20% to keep voting power full and voting full power while hovering around 20% means about the same. I analyzed it recently.