I think nowadays loyalty is over-rated for airline and hotel programs but some are still very emotionally attached to their loyalty / elite status and feel the corporation owes them something more than their elite benefits. It's probably best to become a (big!) shareholder if someone wants a voice in how company should be run.
Let's say, Hyatt loses 500 Globalists over this promo (far fetched), with each one of them taking their 75 nights with them for 2018. That's 37,500 nights lost.
Let's say, Hyatt gains 3,000 Globalists with this promo (not far fetched) and immediately generates 60,000 nights from their 20-nights qualification WITHOUT having to provide Globalist benefits.
Let's say, those 3,000 Globalists each book an average of 10 nights in 2018 because of their newly minted status ... that's another 30,000 nights gained.
Let's say, Hyatt retains 10% from the 3,000 Globalists for 2019.
Well .... you get the picture.
These are business decisions. Not emotional.