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RE: A case for eliminating curation rewards
Actually authors have nothing to lose, because authors don't need to buy STEEM to be able to post. Write good contents then earn more, or write garbage then earn less even nothing, but it is still no financial cost.
On the other hand, for voters, they have financial opportunity cost as a whole, voting badly (or others voting badly) then STEEM price go down, but voting better doesn't mean price go up, just my speculations though.
Both authors and voters don't have to buy STEEM if they signed up via Steemit. There are many free accounts using Steemvoter service (while they barely get curation reward, they are doing because they can earn anyway).
Generally, writing a post consumes tens of times of time and energy more than reading, or infinite times more than bots because they don't read. While, there is an argument for tipping-based system as well and I understand it's reasons, I would say rewarding author is essential.
Bad voting doesn't directly decrease the price nor good voting increase it. But degraded platform by bad voting can drive away users and consequently harm the price.