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Imagine every node operator adopts that policy. What sort of consequences would you expect of making it free to send any amount of data to all bitcoin nodes?
It wouldn't cause "it free to send any amount of data to all bitcoin nodes". Let's not exaggerate.
That's not true. It means that the sender paid for the extra bytes at the same fee-rate.
Let’s say I send a 200 vbyte transaction with a fee of 200 sats. Then I get to send a replacement for that transaction that is also 200 vbytes and pays 200 sats.
How much did my second transaction increase the available fees in the mempool? Zilch.
Ergo, the relay of my second transaction was free, and I can repeat that until one of my transactions gets confirmed.
That's ok. In the end there is one transaction in mempools. A transaction is replaced with another one of the same size. What do you think justifies charging additional fee in such a case?
Let's not exaggerate. This setting reconfiguration doesn't cause endless amounts of data to be forwarded.
What makes you considering a transaction with fee at 1 sat/vbyte as okay while the same transaction with smaller fee, e.g. at 0.1 sat/vbyte as not okay ("useless data")?
As a side note, consider also setting
incrementalrelayfee=0instead of the default 3000 in order to relay replacement transactions which fee-rates don't change.