Same here.

Maybe they're fixing this giant loophole. Points & Cash would be a great addition to the program, but this loophole was too large and needs to be addressed. The cash portion should be refundable and the points reversed if the reservation is canceled. Alternatively, they should set it up like SPG, where the hotel collects and keeps the cash. Either way would add value without setting us up for a massive devaluation and/or angering hotel owners/operators.