This would kill the coin, once the yield is gone, the capital would be sold en-masse and the price would be obliterated
This has already occurred - propelled on in no small measure by the reward ratio adjustment of 3 years ago in favour of masternodes. Yield must be measured in $USD, not Dash because the yield is on the invested capital (which is $USD). This means capital loss on the masternode collateral has far more to say about "yield" than masternode rewards do while they are denominated in Dash.
("Obliteration" in most market observers eyes is being wiped off Page 1 of coinmarketcap.com which is now happening to us).
What we must do IMO is restore the Dash blockchain's capacity to absorb capital which has been throttled by the the need to fund unearned masternode profits and treasury budgets at all costs.