They are and realistically that number keeps going down over time as the network optimises ROI to be competitive enough to cover the risk of running a MN and currently that risk is being priced in at 6.8%.
6.8% isn't the return on investment, it's the staking yield.
ROI is a metric that can be compared across different assets and takes account of capital gain/loss. It can be negative even if staking yield is positive.
Anyone that invested above $138 is currently at negative ROI (net of rewards) even though they are receiving their 6.8% staking yield. Conversely, only people who invested at under $138 are currently at positive ROI.
Because we are a mined, non-defi coin with no on-chain sink, there is a point of diminishing returns (PODR) on ROI by sacrificing mining for masternode reward. (Because masternodes do not have to "buy" their supply in a bidding war whereas miners do, therefore at nodecount equilibrium masternodes become net sellers of the new supply en-masse, thereby undermining the capital gain element of the ROI).
We are way past that point of diminishing returns which is why we're way down the rankings.
I think the relationship between ROI, Staking Yield and reward ratio therefore looks something like this:
(Beyond the PODR, the inverse relationship between ROI and staking yield is even further consolidated by the net reduction in masternode holdings. That's what we're seeing now).
[moderator's note: consecutive posts merged]
