Actually, I can see where TS is coming from; not in a 'it's a criminal act that needs regulation' perspective, but from a 'balance of power' perspective.

There is a distinct difference between an actual currency strengthening and weakening based on economic forces, and an airline unilaterally deciding that their (points) currency should be worth 50% (or whatever) less, based purely on how unprofitable the program is becoming.

In the latter case, the value of the points are not determined by supply and demand or the market; but are purely the prerogative of the airline.

To most of you guys who've been in 'the hobby' for a while you've already intimately understood and accepted that it's the airline's currency; if you want to play their game you need to play by their rules. To newcomers it's not as immediately obvious.