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I'm much, much, much more amenable to his fee smoothing proposal than this crap. Proving that (for a certain model of coin loss, which may well be incorrect) supply converges to *some number* does not tell us anything useful at all about total supply dilution, it could dilute all the way to 21billion for all we know. It's also wildly implausible that tail emission would provide both a sufficient security budget, and low monetary inflation, let alone under a majority of market conditions. $175 million sounds like a lot until you realize that's only 2 or 3 day's worth of revenue currently, or like 10 days worth of revenue near the low end of this chart

Bitcoin Miners Revenue Per Day (Daily) - Historical Data & …

View daily updates and historical trends for Bitcoin Miners Revenue Per Day. Source: Blockchain.com. Track economic data with YCharts analytics.

This of course is counting the current block subsidy, but that's my point, EITHER the tail emission is an insignificant additional subsidy, OR it's very significant, in which case that means bitcoin will have a vastly reduced security budget from what it has today.