I think you are misinterpreting rate limiting, actually. I think it has more to do with the reader’s previous engagement rather that the story’s. For example, a reader who claps for every story they read will no longer trigger the engagement multiplier because their engagement is “worth less” compared to a reader who glances at fives articles, reads two more, and only claps for one of them. The story they clapped for must be “better” because it triggered their engagement when they don’t always engage. At least, that’s how I interpreted it: Tony is trying to discourage read-for-read engagement by rate-limiting people who engage too much, this “devaluing” their engagement.