That isn't a capital flow analysis, it's a calculated example of Miner Amotisation which has nothing to do with capital flows.

It's explained here and is simple to understand.

In the masternode "reward" model, when rewards are sold the capital goes into the pickets of masternode holders instead of going towards bidding for the primary supply. Please stop pretending you "don't understand it". There's nothing to understand. It's the basis of all mined coins value model.