Diminishing returns vs Fluctuating returns

Diminishing returns - When the reward/value of investing into something becomes less the more you invested. i.e: Investing points into dex after 40.

Fluctuating returns - When the reward/value of investing into something becomes less the more you invested up until a certain point

I think some aspects of the game should have fluctuating returns instead of diminishing returns. It would give players all the incentive they need for going all the way regarding something.

I think covenants above all else should have fluctuating returns(or a huge reward for getting to rank 3). Maybe a giant spike every 10 points into a stat after 40? A spike in the amount of defense humanity adds?

I, for one, would be partial to diminishing returns. It's more realistic. In real life, the difference between an expert and a master is only a few points, so, the more you level up after a certain point, the less you should get out of it. It just makes sense. I can see the attraction to fluctuating returns, but for me, it'd make for too much grinding and immersion-breaking.

I'm for diminishing returns. I feel that after a certain point stats should be less important and success or failure should be all about skill.

As for a covenant bonus. It should only apply if you are in the covent and be lost if you leave.

the problem with diminishing returns is we get high level stagnation and people don't go as high as they cant for fun, another sugestion I have is have MH style armor upgrades (I.E. once you get NG+ (+++ etc) you can get new gear that is better but requires more and more stats.

I think it would have made more sense if the merchants didn't sell titanite until NG+. Maybe even have slabs only drop for the first time in NG+ and get a small increase in probability for each additional run through.

I'm for anything that pushes the meta past 100-120.