A key change this year appears to be the premium being placed on MLL access. The 2 certs in the kit for SE instead of 4 helps confirm this.

Maybe AC's marketing folks figure that the average Joe Blow E/SE values MLL access above all else and decided to make this more exclusive.

I'd maintain the average elite pax wouldn't know a V fare if it hit them in the head and cares little about reward sales and reward ticket change fees. A good number of these folks may not know about the lost upgrade at time of booking benefit for SE (moot for E).

Pretend you are an AC marketing person: How would you explain this?