Just not worth he hasle
So I did a fair amount of calculating how this plays out for me, and the new program simply isn't worth it for me. At the end of the day, it's about staying in a decent hotel room for a decent price. There are only 2 or 3 actual Hyatt hotels that are special in terms of "given the options, let's stay at the Hyatt in pace X, y or Z." We can easily still stay at these places without staying at the dozens of other "me too" properties, never mind the out-of-the-way HH's & HP's to maintain status.
Gold Passport and the achievable diamond benefits were the only reason we chose to stay at Hyatt, and this new laughable program means we'll go from about 45 nights or so with Hyatt next year to 9. Frankly, I see a lot of other people coming to the same conclusion, regardless of what the shills and trolls are trying to sell us on. It was very good while it lasted.