Count me among those displeased with these "enhancements" - I'd like to keep an AMEX in my wallet but these new benefits are not worth the increase in AF.
The no FTF is certainly not worth $30. Especially compared to the CSP. Most of my expenses when I travel internationally fall into the "travel" or "dining" category anyway so why would I shift my international spend from the CSP to this since I get a bonus on those categories. It also sounds like some are suggesting that AMEX doesn't provide the best FOREX rates (not sure if this is true or not). I know for a fact that Chase (both CSP and Hyatt) provides an exceptional FOREX rate. I've often checked the cost of something on the XE Currency Conversion app prior to purchasing and then looked at my CC statement and found that I was charged even less than XE was suggesting it would cost with the exchange rate.
Plus, at least for now, CSP gives a 7% yearly rebate for those of us who got the card before they phased it out last year.
As mentioned by others the Hyatt Card has a lower annual fee, no FTF, Plat (doesn't get you much but at least gets you bonus miles, free premium internet, elite recognition at hotels, etc.) and comes with an annual free night that I've consistently been able to use for a night that would have cost me more than the AF, making the AF a justifiable expense.
At the very least I would've like SPG to either provide Gold to cardholders (like the Citi Reserve) or a free Cat 1-4 or 1-5 night.