My opinion:
I agree with those who say just change one thing at a time. I would change the reward function now, without dealing with the comment reward pool at the same time.
In the White Paper, the reason for an exponential function as the reward function is explained, and still might be valid. But does the exponent Have to be 2? Why not bump it down to 1.5 or even 1.2 in order to flatten the curve?
Why not make the exponent a parameter the witnesses can adjust over time, much as they now adjust the Steem Backed Dollar's interest rate?
RE: Details on Proposed Comment Reward Curve