...For many years I have believed that Southwest should restrict Companion Pass qualification to A-listers, namely people who buy tickets on the airline. With so many non-customers exploiting the CP opportunity I think the CP is at risk of dying unless Southwest moves to limit it.
You may well be correct about this; I believe that the new CPQP is probably WN's last attempt to keep CP alive, but see the factors below:
1) If CP redemption goes utterly crazy between now and 3/31 or so I could see this being the last year of "CP as we know it" - either dropping the program or adding a requirement along the lines of making A-List. (But if the average CP earner doesn't use the CP more than 3 or 4 times in 2017, maybe it won't matter.)
2) If CP survives as something to be earned in 2018, I wonder if the post-3/31 requirements will be enough to keep the program healthy. Non-frequent WN Customers (unless they are willing to do extensive MS) will really only have the "2 Chase CC bonuses + 6000 other points" option - I could easily see the combination of the new CPQP rules and 5/24 cutting down the number of people who earn CP to a small enough number that makes CP sustainable.
My best guess at present is that CP will be earnable in 2018 (60%/40% if I were an oddsmaker), but I am thought of as an optimist by many of my friends...