Your entire argument can easily be undermined, as it is based purely on speculation and wishful thinking. You have provided no evidence to support the claim that the new burn-only model will magically be more successful or efficient than the current veCake model, or that it will result in a price increase. The entire market has experienced a significant drop, not just the price of Cake.
The decrease in bribes could be attributed to multiple factors, and there is no evidence to suggest that it is directly caused by the veTokenomics themselves. CakePie alone has already locked approximately 13 million Cake in less than two years, which is certainly not negligible. Did you expect them to instantly remove 95% of the supply from circulation? That argument is entirely absurd.
Additionally, you are completely ignoring the benefits provided by SubDAO’s for Cake stakers, which have generated substantial revenue and offered very juicy farming and staking APRs for countless months. I also don’t accept your peg argument, as the peg could theoretically tighten to a 1:1 ratio at any time, and it hasn’t always been a 40% deviation. For example, the SdCake peg is much closer to 1:1 than the CakePie peg.
In summary, it’s easy to dismantle your logical fallacies. I have presented an irrefutable fact demonstrating why the veCake model is clearly superior and more efficient than a burn-only model as the price increases. The veCake model attracts more bribe income, whereas a burn-only model will burn fewer tokens (= less than target deflation) as the price rises. This is an undeniable advantage of the veTokenomics, along with other benefits such as significantly reduced sell pressure, as tokens are locked for the long term.