I'm with the OP! I'm thinking the program is actually pretty fair. As a hub captive I pay more for my trips no matter what. I never had time to do mileage runs, so really I just want my rewards to have some relationship to the fair paid..
The crazy structure was paying crap miles for short expensive hops and then ridiculous for overseas. Ran a trip to Cambodia this year and got my Gold status in one flight, that's silly.
When did flying long hauls work like a BOGO? I like the new program, and the idea that it might thin the herd is even better...empty seats in first/business is actually an improvement and adds value to those buckets.
I actually really like flying on Korea Air in business and it was not filled with non-revs, and medallions riding upgrades..