The cards and SPS continue to go down and it doesnt seem to have an end at the moment. That being said, the only way to continue playing is to upgrade your deck to max level or you hit some tough opponents pretty quickly in modern.
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The fallacy of the 'introducing a pay2play tax in Wild' is that those who continue playing will likely earn more SPS but the value at least equally will have come down. It feels like now this is already playing out. I don't see anything on the horizon that actually will bring new players in which in the end it all comes down to. At the same time I have a hard time to see Splinterlands fully go belly-up which makes me continue to cost-average at current dropping prices.
That is the biggest issue I think and the 2nd is the lack of use case for older cards and not helping to protect their value. I enjoyed the alpha and beta games in the brawls, so there is something that could have been done like you have previously suggested.. this lack of hindsight is probably the biggest disappointment with the current move. But maybe it can change later? However, I understand what they have done, and at some point they would need to cut off the users of bots completely from the free lunch. I am going to see how the next few seasons go and have already sold my bot I used for wild.