However, I do wonder as price rises if rewards and zaps will get smaller as people mentally value their sats at a higher rate even though we should all be valuing sats more than we do.

This is the major danger. For now, as you mentioned, it doesn't seem necessary, but I agree it might become necessary in the future. However, in this case, it would also be fair that if the price decreases, the rent becomes more expensive. Perhaps it's an idea without much sense, but what if the rent were variable based on the territory's revenue? With limits, of course.