Removing social rewards is code for I want to have a passive investment where I don't need to work to receive a portion of the inflation.
The curation game allows you to beat the inflation (if you are good at it). Currently curation allows me to receive an APR of about 15% measured in Hive (which almost doubles the theoretical inflation).
The biggest culprits that dilute the investment in hive are HBD conversions not social rewards. Removing them will simply attract a different type of user to hive. Instead of having people that look to farm post rewards we will have users that farm yield from staking. Both dilute investors by putting selling pressure on the market.
In my opinion the future of hive is in being the token that fuels second layer applications with resource credits. In that scenario investing in hive would not have the main objective of yield farming for a portion of the inflation but to use it as a utility token.
Having a reward pool is not an obstacle for that. If you want to boost short term speculation then what we need to do is fix HBD or remove it. One way to fix the pegging so that it doesn't create extra inflation is to not have it backed by a percentage of the supply but by having a pool of Hive tokens "assigned" for that purpose.
The blueprint for having a collateralized pegged asset has already been tested by the wider crypto community so why not use it.
Final note, removing the curation game from the equation will have the unintended consequence of reducing the APR for staking for everyone except the stake that is inactive. So that is a hard NO on my part unless if it can be proven that it will not affect my APR.