I don't really care. I had about 450k points banked when I found out about the devaluation so I've just been spending them like crazy. A few days ago I booked a 150k 6 night trip to disney for me and my wife then bought a friend of mine a five night in NYC for his honey moon. I'm always going to have more points than I really need. Even with the points devaluation, a really nice vacation abroad in a top-tier property still won't be any more than 250k points. With how easy it is to get points its not that big of a deal. Heck you get 50% bonus points just for staying if that's your "my way" double dip option, then get another 50% with diamond VIP bonus. Then you have other promotions like double points for x months, credit card bonuses, etc.

Points are very easy to come by so naturally the cost of the room inflates. By the time I have availability to take a vacation I've accrued more than enough points to stay anywhere I want to in the world. Another reason I don't have a problem with it is because they've devalued the Diamond VIP status by making it super easy to get. By ticking off enough VIPs they'll re-value it