I am skittish even now just that this idiotic idea is slightly entertained.
I'm surprised this is still being discussed as well...
Changing the block reward won't have 'any effect' on the market value of the coin. Four coins worth 100 satoshi or one YAC worth 400, doesn't change the scope, or the market value, or adoption/acceptation of the coin.
However, chaining the block reward 'because the price is low' won't be viewed lightly by others.