I think it would be appropriate if the committee published a policy about when adjustments of this kind should be done, for example based on % rise in BTS price and for what period of time that % change must persist.
I agree, it needs to be done, but how frequently? When the volatility in crypto they might change it and the next week it's no longer set to an "appropriate" level.
This bull market has been going on now for about 2 months, but it didn't get there overnight. I'd say the pay has been too high for about a month or so, just looking at the rate of increase. You shouldn't expect the committee to make adjustments to this frequently. It does point out another advantage to paying out in BitUSD as opposed to BTS, in which case the committee can set the pay rate directly and it will remain constant irrespective of the price of BTS.
What is a reasonable pay rate for witnesses? This poll seems to suggest $600 / month is reasonable. If new accounts and transactions continue to increase witnesses will need to add more nodes or the shareholders need to wake up and start to vote in more witnesses, and the trend is currently heading in the opposite direction.