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Yeah, but it works only one season. And the following one, chests will be harder.
If one doesn't climb leagues, it shouldn't be much impressive earnings: my big rented card for Collection Power expired between 2 games. I didn't pay attention before the match, but it made me go from Silver 3 to Bronze 1. My Rshares went from 3000 to 1200. Same rating, just 1 minute between games.
So if someone stays in Bronze just to farm bronze chests, he won't make much actually. It's really the climbing that pays out, I think, and that will not last.

What if you hit your limit at the top? Does that mean I should expect even worse rewards?

I hope not! Hopefully it has been correctly balanced!
For me this season, I made at 3500 Rshares per win. So the first win brings 4-5 bronze chests and I finish the day with 15-20.
Next season, that 3500 Rshares per win will brings me way less silver chests, but I hope that the quality will make up for the quantity... I hope!
I guess we can only wait and see