You are right that the tech assets have a lower dividend profile.
The mirror incentives rates will likely compress over time. There is a new thread speaking to how to achieve sustainability. I’m not sure the specific timeline, but you would probably have to hop to a ‘new’ protocol in a few years to maintain the high yields.
Because the market goes up and down, I’d you remove dividends from SPY the compounding return really is only around 3.5 long term (making 8-1.5=3.5 lol). You can find calculators that show the ex-dividend rate to illustrate my point.
That said, my understanding is Mars protocol is supposed to help address this dividend issue somehow, but I’m not sure how