If Jupiter announces $JUP buybacks the game will change for its ecosystem forever IMO.

The lack of utility for $JUP has stopped people from buying it.

This would shift the narrative from "Why would I buy it if it's just a governance token"

to 

"The biggest DeFi protocol in crypto has a token that is directly impacted by its trading volumes through buybacks"

Another interesting possibility would be JUP stakers received yield based on trading fees, instead of buybacks - although I think the buybacks narrative has more "price up" potential.

Plus:
- 30% token supply reduction
- Staked JUP for Voting
- Jupnet
- Airdrop supply distributed

The future is bright for the token and the Jupiter Ecosystem.