The idea was to implement a gold sink which is certainly needed. The market is flooded like hell at the moment.
I'm neither for or against gold sinks. Personally I see no need for them but I don't have a problem with the Devs introducing them besides the fact I'd like to see their resources and time being spent on something that might actually make the game better. Fix Bugs, High Resolution graphics, another expansion etc...
If there are players out there that want to voluntarily spend their gold on something then that's their prerogative. Currently there is absolutely no evidence to suggest that having too much in game gold is having a negative impact on the UO Economy. The lack of players not the excess of gold is what's effecting the UO Economy.
The game is flooded with items and a lack of players to buy them. Sonoma which used to be a very active shard has now become a ghost town. UO unfortunately is probably not gaining more players than it's losing.
Prices on items are coming down in the game across the board on all shards because the increase in competition in conjunction with the lack of demand.
Also none of the recent steps taken by the Dev team indicate they are trying to limit the amount of gold in the game. Weight of gold was reduced, Bags of Sending were reactivated, Gold on Monsters was increased, Gold at Champion Spawns was increased. The New Brittainian ship was made available at UOgamecodes making an item that was going for 150M is now selling for 20M.
Perhaps the right hand doesn't know what the left hand is doing...
Personally I think the idea that gold sinks are needed is a bunch of rubbish.