Here is my review of EIP-2384 (DRAFT) now in Last Call.
4 mil is too much
The 4,000,000 block delay is 1.7 years. This gives Ethereum core devs too much leeway to stall on Ethereum 2 development without seeking further community input.
Why is a 3,000,00 block delay as was done previously not sufficient?
Are you that scared of us?
Block reward should go down
There should be a commensurate decrease in the block reward with this change.
Reading the references which are already presented in EIP-2385 (DRAFT) show the thinking that developed in the past when considering this same issue.
See: https://www.youtube.com/watch?v=wLaI7680I4w&t=4888s
You can hear Vitalik argue that reducing the block reward from 5 to 3 is appropriate if the price of Ether is above $10 or so. Well, we’re well above $10 now. Reducing it again is appropriate.
So far this has been a discussion point. But I will argue that the EIP draft is currently defective because the EIP-649 is cited as “The implementation in it’s logic does not differ from EIP-649” but the reward reduction is not even mentioned. This is missing a required point in the Rationale section.