Yes. I have moved a lot of my stays away from IHG; I don't bother to use the Amb BOGOF voucher any more, ever since that was changed a couple of years back. Then after last year's devaluation I moved away from some of my regular IC stays. Now, after this latest round of devaluations, I don't feel that it's the same loyalty program that I used to belong to any more.
In the space of a couple of years, IHG/Priority Club have managed to turn me from someone who would rarely even consider staying in a non-IHG hotel (since the days of six-continent club) into someone that feels virtually no loyalty at all to the IHG chain!
Well done bean-counters at IHG; another "life-long" customer lost!