I see no gutting at all. As
tom911 just stated, take away my eVIPs, I scream, but otherwise I still see AAdvantage as the best program out there. My CC miles are getting larger and larger each month (the more stuff costs, the more miles I earn), so given that, plus the increase in J and Y fares in the last several months, and I still see 25k + $350 as a good deal. The inflation in currency (miles) is being outstripped by cash tickets, so they are still a good/better deal (at least for my routes).
OTOH, if something happens with BA, AA has to curb some of the upgrading a bit anway.