what does lock up bring?
Nothing.
Lock-up in a pool brings benefits. Lock up for interest rates only is called Ponzi.
1 year lock up in a pool for whatever rate + fees is something the network would profit out.
More liquidity = super power.
But since Hive is not front running anymore the algo coin game, i would say waiting for "what happens to luna" and profit out of the information we get.
We are not first anymore in this game, so time plays for us.
Rushing can bust hive.
I disagree, I believe it's interesting to bring some "stability" where people can make financial decisions and project themselves a bit without being like "I'm going to put money on HBD and hope that 3 weeks from now they don't reduce the apr to 0".
The counter argument where you could say "well then you can just remove from savings and move your funds to a different defi protocol" is valid though.
Another good argument against it is that it could "lock" hive in an unsustainable spiral of generating too much inflation, say someone locks up 20m HBD at 20% for a year, that's a lot of inflation, and if the witnesses realize too late that the tokeneconomics will drive HBD to the ground, we can't do anything about it.
These kinds of financial instruments can make more damage than we would expect now.
And also they can destroy trust. I can only recommend being very careful with those things.