i'm fine with the clunky reward schedule, because it is reliable and simple.
right now after renewed consideration i'm not sure that a precise exponential decay regime would even make any real benefit. it has an ironic benefit in that it creates a resonant cycle of hype and hope. i think that in the 4+ year time window this actually has a benefit that is about psychology.
not saying that it isn't inelegant, but very often elegance is not necessarily better than brute simplicity.