Stellaris badly needed something to stop pop growth bonuses and colonization spam from being so utterly dominant and this does the trick. I do agree that it makes no logical sense that having more pops slows growth, but overall it's an improvement and I can now finally start playing medium galaxies with 1x habitable planets instead of small galaxies with 0.25x habitable planets and actually start playing the diplomacy game.
An actual viable tall play style actually exists now for perhaps the first time in the game's history, at least in early and midgame. You will still want to start incorporating other empire's pops into your own empire in the late game, but it's refreshing that you don't need to do so in the early and midgame. And it's now more useful to vassalize your neighbors instead of murdering them too, so that their planets can grow and you can integrate them in the late game.
Also, more planets still gives you more growth so it'll always be worth colonizing more. The scaling now just has diminishing returns. But even 2 pops are still enough to make a new colony productive. Build an Industrial District, set it to Forge World, and favor the Metallurgist job. You're now getting 6+ Alloys (value 6x4=24) for the cost of 3 Energy, 2 Food, 1 CG, and 6 Minerals (value 3+2+1x2+6=13), which is a net profit of 9. Production bonuses and upkeep reduction increases that too, but let's go with 10 value. The colony ship costs 1400 worth of resources and together with the 500 minerals for the district that's 1900. The colony will pay for itself in 190 months or 17 years. You do get 7 sprawl before reductions and let's say 6 after reductions. So every 4th colony would have to be an administrative center which costs about as much as the Industrial District. That gives you 30 value to pay for a 7600 investment, which pays back its cost in about 25 years. So you can really keep colonizing up until say 50 years before endgame and still profit from it.
Finally, this is quite trivial to mod. I timed myself and it took me less than 4 minutes to make a mod that removes the slowdown, though it took me another 10 minutes to make a thumbnail and upload it to the Steam workshop. https://steamcommunity.com/sharedfiles/filedetails/?id=2462494797
Once you start hitting 8 years for a pop to grow (and 25 for the robot assembly), adding more planets technically still helps, but practically doesn't.
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