As others have commented, you're missing the fact that it is literally impossible for this many nodes to be sold without a tremendous increase in the price of SPS. The system is self-regulating. If the SPS price is low, it won't make sense to buy the higher priced licenses, so they won't be bought and the pool will be split among fewer users, meaning more per user. On the flip side, if the price increases then more licenses will be purchased so the dollar value of the total earnings will go up but will be spread among more people.

> Assuming that tranche 3 sells out,

Keep in mind that, even if the max number of vouchers are used, it would require the entire current market cap of SPS to be burned for tranche 3 to sell out at current prices.