It doesn't make sense as an equilibrium outcome (absent some outside subsidy). However, most stackers are zapping well below the equilibrium level right now, so there are sats to be made just by zapping content. I'm living proof of this and I've been admonishing everyone else for their miserly behavior pretty much the entire time I've been on SN. The hodl mentality is working against them in this case.

I actually like incentivizing zappers more, since there's no other financial reason to do it. If people are rewarded for zapping "well", then by necessity creators are being rewarded. Shifting the burden of producing zaps onto creators seems like pushing on a rope to me.