I think I got it anyway! :)

In fact I was forgetting about the reward pool rules.

I was asking in the case of many participants selling their vests and withdrawing money from the economic system by selling their STEEMs in the market.

What would happen to the voting value of those who remained with their vests untouched?

But since the STEEM price would fall sharply and the reduced amount of vested money would reduce the generation capacity of the reward pool, it would just reduce the vote value, right?