Shouldn’t the common ore prices fall even further to new lows, if the scarcity update becomes partially reverted (this assuming without the industry patch being struck down)?
If the ores become distributed more widely and commonly again, then ore prices per m3 should definitely go lower, even if miners might be able to start making a little more isk per hour from then on.
If the mineral concentrations in new and pre-existing ores are increased, than that, by itself, should increase the value of pre-existing ores when the update comes near, but when the scarcity update was announced, we saw that the distribution nerf had a much bigger effect on ore prices.
Scarcity increased the price of minerals before and after the first update and also increased the value of common ores, but only right until the update, after which the most common stuff like veldspar decreased to around pre-anouncement pricing.
If the update were similarly reversed, I would then expect the mineral prices to fall and the value of common ores to drop temporarily, in between announcement and update.
If I were to bet my isk on it, I would sell minerals sooner rather than later and not speculate on buying+holding ores either.
I say don’t mine rocks now. You can never go wrong with not mining anything and now is an even worse time to mine rocks.