So far there have been several ways of getting utility out of YFI (i.e. not focused on Price Appreciation). This article has a good list of uses for YFI.
I would add a couple more recent ones: collateral for Abracadabra.money ==>MIM through the Yearn YFI vault and it also allowed to be a whitelist participant in some new launches at the discretion of those protocols (e.g. Float Protocol).
Whatever change is made, the focus should be on not losing the current composability (i.e. use as collateral).
Also, there should be a way to start sending some of the cashflow (~9M in Q2 2021) to the YFI holders in any of their forms (i.e YFI as collateral, as LP, in Yearn Vaults, etc.). Not sure if that is technically possible (i.e. if you are in an LP), so this may not be feasible.
However, if that cashflow can be reinvested for higher growth, it should be considered too.
I personally like some commitment to cash distributions as it forces some discipline and it allows for a little more stable DeFI environment by having organic cashflows in your portfolio.
The veCRV model although is a solid idea is very cumbersome and limiting, as well as expensive for the staker. I would stay away from something like that, or implement it in a different way (stake for a defined period without decay over that period).