A few have already used it, according to the log:
Total IOTMs Traded In: 30
Total Peen Given Out: 150
I've been pondering awhile and watching Yoobey auctions for old IOTMs go unbid on much above the old sell price of 5 peen, and it seems like this is a reasonable answer to the fact that a "collectable" market for those old duplicate IOTMs never materialized. I figure old players should be able to trade in old speculatively bought IOTM duplicates and get the old sell price back in peen to put towards new stuff. People should get their money's worth of fun, and I didn't feel like having old dupe IOTMs sitting around taunting people was conductive to the fun of those players. (:
PS: I don't think Yonk will buy the handful of IOTMs that are discontinued, and therefore actually are "collectable", but someone should check that. He also won't buy the newer IOTMs, but there's likely a few newer ones he will buy, because I kind of drew the line arbitrarily.
Well, that happened around 2011, I think, when it became clear that the player churn was never going to be high enough to support a collector market. The old semi-KOL-like model was: "buy a bunch of IOTMs now, because they're cheap and will only get more expensive over time", which never came to pass.
When that change was made, the philosophy became: "Buy the IOTMs you want, and any extra you have won't be worth less than the basic 10 peen price at the Hut, so auction your old extras and make a few peen profit". That, in the past 6 months worth of auctions, also proved to not be workable with the size of the playerbase. I've seen dozens of auctions for IOTMs lately that were priced well below 10 peen and never got bids.
Yonk is basically the last piece of that philosophical change in how I think IOTMs should work for people. Yonk basically says: "I appreciate that you believed that SSW was going to follow the same path to success that KoL did and you bet heavily on that future success. Your faith was misplaced, but there's no reason you should suffer for it, so here's a kind of refund. Now go get the things you want, and don't worry about 'investing'."
So, it's a gamble. A sudden influx of new peen into the economy could suppress donations in the short term, but frankly the players benefiting from this are all long-term donators anyway, so I feel it won't have a significant impact. Players who are happy with what they get out of a game are likely to continue to support it. (at least I hope so) :D