I think this is the best way of thinking about it.

I would be much more enthusiastic if the ballot initiative had picked 7% to be in closer alignment with our neighboring states and still substantially lower than the premium charged by states like NY and CA.

It is perfectly reasonable for FL and TX to compete on price to attract residents just as it's perfectly reasonable for other states to charge a premium and focus more on quality of life and amenities. The nice thing about the laboratory of democracy is that we get to see what people actually value and states can respond accordingly.