Don, I agree with the above, in part, but punters are also investors and they are culling NZ racing as well. Would you not agree that we need BOTH a racing product that is attractive to owners AND a wagering product that is attractive to punters and that both must be sustainable?
There is a limit to how many races can be run that fail to generate sufficient revenue to cover the cost of the event and in particular the stake money. This is not about being fair to clubs as you suggest (though a degree of that seems necessary to incentivise clubs as well), it is about a sound business framework that is optimal for achieving both the above objectives.
How the stakes pie is cut is a key part of that though certainly not all of it. As I've said, it would be good to survey owners with 2 or 3 optional models to indeed establish what the customer wants. I'm not convinced that your view is what would be most attractive to the majority, although you may be right. However, the options presented must be sustainable. As far as I can makeout yours is not.