Thanks a lot for the work done @0x_Lucas.
I agree with all your observations. Moreover, I think that reducing the amount of BANKs required to step in the DAO and eliminating the guest passes coordinape rounds are reform that go together. As you eliminate a chance of earning BANKs but at the same time you make it easier to become a Level 1.
My only point of criticism is that we need to implement a mechanism to check whether a project really deserves to be refunded in the light of the achieved results. I would like to see some of the well funded projects creating some output (e.g. Academia, content-gater, workshops, etc.) before defining a new funding strategy.
In addition, I would work on some already funded projects that are struggling. For instance, our website - which is overall nice - looks really sad in this moment: https://www.bankless.community/
All the references are not updated… As I have tried to say in other occasions, I think that it is better to start from the simple things instead of creating THE disruptive technology in 3 months. This means focusing on things that do not look great and try to fix them.