Do you account for the effects you have on the rest of the community when calculating your impact?
For example, I suspect YC is strongly responsible for the rise of "low amounts of equity without control for a small amount of funding" seed rounds, and for the existence of accelerators, in both cases globally.
The Fellowship model of investing tiny amounts - like "sparks", lighting a fire - into an enormous number of teams with as little friction as possible was the next logical step and I was looking forward to Fellowship copies sprouting all over the world.
Unfortunately by effectively ending the program you might be sending a signal to global investors not to try it, that YC Core is the deal size floor that works...
TBD how this plays out, but it'll be interesting to watch.