The reality is very simple and it has nothing to do with the current price:

Premined coins will be ignored.

BCN hit the market being 82% mined. Nobody took it seriously. It was forked. XMR was born.

The shitty market condition and developing of this new tech take 2 years. XMR hits the market, 70% mined. Many will feel pity for it to be a nice coin, but will nevertheless fork it since it has no chance to fly with such a huge unfair premine. Total loss for holders.

If we want that anyone takes XMR seriously, and regards it as a fair coin after 2 years, we cut the emission now. Otherwise we risk a fork to a coin with a fairer emission.