The real loser in this is going to be American, at least for those of us in the United States.
If I had to cut four segments from my itinerary (and yes, I realize that this will not apply retroactively), I would cut four of my domestic segments as I already live here, and that travel is the most discretionary. I suspect others would make the same choice.
This would be a really bad move and would represent a serious devaluation of the product. I am wondering if this move makes the Global Explorer a better option.