Interesting proposal, a lot to unpack.
First of all, I think it’s ok to acknowledge that in part this proposal aims to increase the utility and thus value of MNDE, that’s perfectly fine.
I disagree with the sentiment that this benefits small validators who are struggling to make a profit, however. Validators who are struggling to make a profit are likely at the limit of their cash flow (or they’d have purchased more SOL for self stake etc) and don’t have large excess liquidity to pump into MNDE. In fact large validators who have been profitable for some time are more likely to be sitting on reserves enabling them to benefit from this.
Despite this I think it’s an interesting and worthwhile proposal, but I don’t think all Marinade stake should be governed this way. This is essentially a distribution based on economic strength and wealth of a validator, while the current delegation formula is merit-based. A healthy mix of those two will be a great result. I think anything higher than 20-30% of total stake being controlled by MNDE voting could lead to negative results and an erosion of Marinade’s brand of championing decentralization and small validators, where it becomes simply a pool for the rich.