The high interest rate, was to compensate for inflation. In the new system there'll be significantly less inflation and thus the need for interest as compensation is greatly reduced. You'll get much less interest, but your Steem won't be losing value like it did before.

I think this is a great change, and I've doubled my investment in Steem, because I think it will stop the endless drop in the value of Steem, and likely even make it go up again.