Reward Pool Over 1M Steem, Is This a Good Sign?

Reading some Steemit articles posted today I have seen that the Steemit reward pool has for the first time gone over the 1 million Steem mark, which is over $800,000.00 at the current 3-1/2 price average used on Steemit. At first glance this appears to be very good news, as the larger the reward pool the higher rewards (or more rewards) this pool can pay.

But why is this reward pool so much higher? The only thing I can think of is that after HF20 less people have been posting, voting has gone down and I guess a good part of this is due to bid bots not having enough mana to work after the crisis we experienced after HF20.

So what we have is less people receiving votes that have a specific value, the reward pool wasn't able to disburse all the Steem it was producing on a daily basis, as far as I have read what was done was that the value of a vote has been increased a small percentage in able to use up the surplus the reward pool has. If posting levels go back to normal this should be leveled to previous numbers soon enough and the rewards given per vote will be the real number.

I always had the question of what would happen if millions of people joined Steemit and the reward pool remained the same, because if voting also increased this pool would not be large enough to reward with the real VP numbers. Now I know, if posting increases so that rewards go beyond the reward pool value, vote values will be decreased.

So in fact the increase we have seen in rewards for our posts is not due to a positive outcome of HF20 quite the contrary it is negative, it is all due to people not having enough RC or mana to vote and Steemit not being able to disburse the complete rewards pool for a few days after HF20. I believe I am right, but I am not an insider so I really don't know if my perception is correct.