Earlier quoted context omitted.
This is a very interesting pricing model. As the supply decreases the equilibrium price is forced to rise regardless of demand. Also interesting that theoretically worse logo options are what's left at a higher price in the end. Could put pressure on buyers to just settle and go with something.
Isn't the quality of the logos left really dependent on the ability of previous purchasers to pick the better quality logos? I would say that it isn't necessarily true that the worst logos are last, much depends on the customers. Plus, it is a fairly subjective metric. (obviously there is a floor here)
But why is there an assumption that he won't be continually adding new logos, presumably using the knowledge of what's been selling to inform what types of new logos to add. I think it's brilliant.