"nothing in this change is meant to limit that" Regardless if it's meant to or not, it absolutely will stifle creativity and community in a major way. Here's a few examples off the top of my head.
An artist posts their work that they put a lot of effort into. One of their followers reblogs to compliment the color choice, and then someone else reblogs from them to give feedback on the shading. OP does not see that feedback.
Someone posts their writing, and a mutual reblogs with "Wow, this is so good!!" Then, a large blog reblogs that post with the mutual's addition, potentially getting OP's writing hundreds or thousands of notes, but now they're unlikely to ever see them.
Someone asks for help brainstorming a story idea. Several people reblog the original post with their ideas, each building off of each other. Now OP is going to have a very hard time seeing those ideas and conversations beyond the first reblog.
Iconic posts with huge numbers of notes are nearly impossible with the note count split up across all the additions. There will be no new 100k note posts, instead it'll be hundreds or thousands of posts with a few hundred notes each, which will destroy any sense of site-wide community.
Conversations through reblogs will become difficult if not impossible, especially with more than two blogs involved.
Seeing a funny post and checking the notes to see what other people are saying about it won't yield much.
The site will overall feel much smaller and less active due to lower note counts (as well as the people who are going to leave if this change persists).
On this very post, if anyone were to add their feedback on a reblog of my post, it wouldn't notify you (the Changes team).
If I wanted my social media to have Twitter's posting features, I would just use Twitter. Tumblr has something unique, and to get rid of that is shooting yourself in the foot. I personally am unlikely to stay on Tumblr if this change persists, even though it's my primary social media, and most of my friends have said the same (including those who are currently paying for no ads).
Feel free to contact me for more information about my concerns. I'm tired right now so this may not be incredibly well-written.
(If any of my followers want to add anything, the Changes blog is where the feedback form has been directing people, so post it here. Just make sure to go to the version I'm reblogging from instead of reblogging from me, because like I mentioned, the new changes mean that they won't see anything posted on a reblog of my post.)