Just from me, in a short time period:
(1) OAK/HNL - I'd have paid about $1700 for 2 F. Instead, I bought 2 tix for about $700, and used expiring guest upgrades. I'd have not have bought the tickets if I couldn't confirm the UG at booking.
(2) OAK/HNL - I'd have paid about $1700 for 2 F. One way had U space, but the other didn't (on a route where they often try and sell UGs at the gate). Fare kept going up. Finally, fare way too high (more than trip 1, using companion fare) - and finally, U space appears. We aren't going.

This is approximately $2700 in lost revenue from me in a short time period, and for the second (non) trip, will most likely be given away to a pair of UG.

I have also cut up one of my 3 CCs, and a second is under scissor consideration.

I may not be the "typical flyer" but I wonder how much this move is increasing or decreasing the bottom line,