Yes, the low amount players will be able to mine the token if the approach is refined but I still believe that low amount players will misuse the token and they might devalue the token at much fast rates. However, refinement could still be helpful for the most players and that's a positive point.
Yes, that may happen if there's a low amount players who will take advantage of it where low amount players could also be able to mine tokens and devalue the token at much fast rates as you have said. Of course, this does not include those low amount players that doesn't do this kind of thing and only play without cheating or abusing the system. We really can't help if some people are like that because it is the same as greed where it's in human nature.