I'd back the idea of a 200% collateralisation ratio as well. Ultimately, if for Alchemix users, "Your only debt is time", then it really doesn't matter that debts take 10-15 years to pay down.
The debt ceiling of 2000 alETH on the other hand I would agree is necessary to maintain the initial integrity of the protocol and mitigate the risk of getting rekt.
At the same time, convincing the broader world about the integrity of the alETH/ETH peg is also critical. That said, alETH (like alUSD) would simply turn into a long-dated bond with notional of 1 ETH financed by interest flows if the peg goes. That in itself isn't the end of the world - it's not great marketing for a peg to break but functionally no one's going to be out of pocket since the debtor/creditor are the same person (in different times).
So I'd be in favour of pushing up the alETH/ETH rewards allocation too. I'm staking in the ALCX/ETH SLP pool and as rightly pointed out above, the aim is to also get some exposure to ETH. BUT the main purpose of the entire exercise is to support ALCX as a protocol and get exposure to ALCX - and as such, even if the 2000 alETH mintable ceiling gets hit and I don't get a chance to borrow alETH by staking ETH to try and get into the alETH/ETH pool, as an ALCX holder the benefits come to me anyway from the protocol's overall success.
Happy either way to be honest - but bottom line is I'd much rather see 200% collateralisation ratios than 400%, everything else no strong views in either direction.