To summarize a lot of what has been said previously…
There is a perceived need for UNI subsidies (LP rewarded with UNI) to stop a very real hemorrhage of the total value locked in Uniswap (from DEFI Pulse). This stated need has been resisted by some who hold the view that TVL is not as important as the volume of trades taking place on unicorn swapperino. There has been no data presented (in this forum post) about how trading volume has reacted to the lack of incentives in the liquidity pools; I think because it doesn’t exist at the moment/ people are waiting for gauntlet’s data, which according to @allo will show if it’s worth keeping/reducing incentives.
Some people have also brought up the separate issue that the UNI in liquidity pools would have to be removed from those pools in order to vote on these proposals. Please direct some of your attention to that: https://gov.uniswap.org/t/allow-uni-tokens-locked-in-pools-to-vote/5559/11. To me this problem seems like one to solve quickly whether one supports this proposal about the LP rewards/incentives or not.
To draw a conclusion: I hope that the gauntlet data provides clarity on whether LP rewards are necessary to sustain UNI as a DEX, and I feel as though the TVL drop is not more than an indication of a potential problem, the potential problem being a potential semipermanent drop in trading volume. Additionally, while we wait for November 23rd to roll around please direct attention to the above link. To me, it seems like a complete failure of our decentralized democratic governance system that needs to be addressed.
P.S. It should be known that I’m new to DeFi and could be completely wrong in every way 
. I have done my best to do my due diligence and research. If you think I’ve overlooked something please do me the favor of responding or at the least messaging me.