I think it's the latter in that it's extremely reduced. Remember Yayake will only allow those who has a big enough aether pool to get past her when people are looking to sign up to the guild. All due to her knowing how much aether one would need to safely cast spells used by thaumagturges. She tells us that she doesn't care about what people say about her after she's turned them away at the front door. Yayake would rather you curse her name then allow you to join only for you to die cause you didn't have enough in the tank so to speak.