Patreon was a great way to incentivise growing translators to become better and more efficient, allowing them to grow a more direct fan base (which translators would need to answer to, personally).
If the quality or quantity of translations drops, it would negatively impact their fan base; which, in turn, would impact the translators' quality of life.
Removing that incentive directly squashed the fan base and lead to a lower quality of life.
Imagine this, you're a top server at a nice restaurant who is loved by the restaurants customers. Because the customers love how far you go to give them a great experience, those customers make sure that you are well taken care of by leaving you a generous tip. Those said customers will even likely go as far as becoming friends with a great person like you. Compared to the meager hourly wage that can barely pay rent, the tip received provides you with more options to grow as a person, develop new skills, have a family, etc
Then suddenly, the restaurant decides to take away your tips (your lifeblood). Would you still want to work so hard just to meet basic necessities?
I'm not saying that money is the only motivator. However, I also don't see other incentives that qidian is employing to keep great translators.
Thus, we may or will likely end up with a turnover cycle of low quality translators. Higher quality translators will likely want more benefits.
Patreon did not only provide a monetary incentive. It provided a community & a variety of support through their fan base and close friends who evolved from those fan base (and on and on and on).