Read the Phore Staking Blog here: https://phore.io/phore-blockchain-and-staking/
Instead, joining shared-masternode services might be better option.
I think it works the opposite of what you're thinking. The more masternodes there are on the Phore network, the larger staking ROI becomes, because every masternode takes 10,000 PHR away from the potential staking pool. They each have a fixed, separate pool of rewards, so if half of Phore is locked in masternodes as collateral, that means at most only half of the remaining supply of Phore could be staked, and that's before taking out any Phore in exchange wallets or other cold wallets that are not being staked.
Observationally, given the way the Phore masternode population has been growing, I think the Phore staking ROI has increased and is approaching masternode ROI.