Weight does not have a diminishing effect on increasing the moment of inertia (MOI) as long as the object's size and mass distribution remain constant. The moment of inertia of a hoop or ring is directly proportional to its mass, meaning that doubling the weight will double the MOI. The discussion clarifies that mass is linear in moment of inertia, and thus, adding weight consistently increases MOI without diminishing returns. Specific examples, such as a 6" diameter ring, illustrate that the relationship holds true regardless of the object's dimensions. Overall, the consensus is that as long as shape and mass distribution are unchanged, additional weight will continue to enhance MOI effectively.