It looks great, and first of all thank you very much for your contributions.
I think there are a few points to consider.
The calculations of FatMan would allow for a much greater compensation than a cap of 50k per UST holder. If the cap is too low there would be more money for developers, who already have an allocation, than for harmed UST holders, while these are supposedly rescue funds. Furthermore, both the protocols and the devs as individuals surely had skin in the game, both in Luna and UST shape, so they will already be compensated by the rescue funds.
The whole rescue fund should be destined to UST holders, include both white knights investors (if they appear) and whatever funds are available in Terra in its current shape and the institutions behind it, it is a priority that they are held accountable for their debt obligations.
Compensation should be dollar on the dollar, if doing say 0.5 on the dollar, more funds will be destined to large wallets than small ones.
Second, whatever amount of UST in big wallets is not refunded should be at least eligible for tokens of the new chain as a compromise solution. There has to be then an allocation for non refunded UST in the new token airdrop (at least 10%). This way everyone is refunded according to their whole amount, and offset some additional loss.
Third, no amount of UST sold after the depeg and until refund should be eligible,nor should be eligible any amount bought after the depeg, it can be perfectly checked on chain. This would allow a much more efficient and fair deployment of the funds.
I proposed something similar, with a more retail less sofisticad approach in