I genuinely can't see how this is good for anyone.
From a personal point, I can kind of live with the earning side (though understand it will hit others harder) - Silver get fewer, higher fare buckets get more etc. I could get over that bit.
However, how do the new redemption levels benefit anyone?
* UuA to CW (esp from Zone 5) is now a massive hike, even if earning as GGL on W fare.
* If you're booking into J,C,D I would assume that you'd be looking at J/F redemptions. these are significantly higher, even with the extra Avios earned.
* Availability. Great if you can book 255 days out. But can frequent business travellers really take advantage of that? Will those booking full W/J find last minute UuA? It's looking unlikely.
* Only 2 seats released, so forget it if you want to use all those Avios for your family holiday.
* High YQ remains
So to me, even high earners will either have a pile of Avios they can't/will struggle to use (especially F), or if they do, will pay considerably more.