I think that the more we talk about it, the more this loophole will be (ab)used. The part that was just theoretical was estimating how long it will take a company to decide that instead of going to the market, they could actually go to the RIPE NCC and get a /16 or maybe a /12 at €2.3 - €3.4 per IP (depending in which quarter you decide to do it).
from what I understand, the procedures clarified in RIPE-640 mean that the price of a /22 obtained by LIR churn will remain at startup fee + 1Y membership, and that it doesn't make any difference to the overall cost whether this is done in Q1 or Q4 because when you open a LIR, you are liable for a full year's membership fees. I.e. cost of doing this in 2015 is 1600+2000 = 3600, or €3.51 per ip address. Nick