From my perspective, changing the max # of coins is the variable that would really have a negative impact. However, keep in mind as we've seen with a lot of other coins, Doge in particular, that fundamentals don't necessarily always equate. Doge for instance has a massive coin supply and yet continues to see huge volume and nice prices. Just something to keep in mind.
Change the max # of coins isn't part of the discussion. It is just changing the block awards. Total number of coins stays the same.