The reality of this is there has been points inflation going on for a long, long time. We've enjoyed the low points-cost rewards while the actual supply of points has been going up dramatically. I cringe when I see thos capitol one "2 points for every dollar!" commercials. All it means is that your points are worth half as much, rather than earning your rewards twice as quickly.

What has happened here, despite how much we hate it, is a re-alignment of the points-cost for tickets. Seems they're taking them back to an approximate value as they were, say, 10 years ago before you could get miles for walking your dog and picking your nose.