To me, Hyatt cushioned the blow with their recent string of incredibly easy-to-achieve promotions for points, free stays, and elite level. So while I obviously do not like the changes, the recent run of promos has mitigated the damage done. For instance, I like to keep a stash of points equal to at least 3 nights at the highest level property. Before devaluation that was at least 54K. Now, its 66K. The 12K difference needed for my stash was easily recouped during the BWB for doing nothing but making stays I normally would make.
Sure, it makes it harder to get additional free nights and some redemptions gems were upgraded 2 category levels, but those were never going to stay that way forever.