The bonus stay/night credit is worthless if you have no plans to go for Diamond. Some incremental spend may get shifted to this card due to the new spending categories but on the whole, the changes just put them head to head against other cards that offer stronger benefits and returns.
Instead of restaurants, airlines and car rentals, I would have liked to have seen restaurants, gas and grocery stores. That would have been enough for me to shift some of my AMEX spend.