I think the gold reduction has a chance to work pretty well.
More people will just leave this game, so this will not even reduce the amount of gold generated, there also will be gold actively leaving the game.
From those left in game, less will bother to run daily dungeon in F8, so this will add on top of the reduced gold drop.
So with some luck, things will good enough to run another HR event soon enough!
Only question left will be, if people going to feel like blowing cash into to the game under this conditions. I dunno, myself I'd rather buy Wirecard stocks now.
Anyway, I just canceled my sub, to be sure not to run into another auto-renewal by accident.