In theory (I reiterate: in theory), when they went to a revenue-based system it should have improved returns for the carrier (it has, no doubt) and also improved the program for its participants. Instead they've taken away 4 SWUs from ExPlt and cut a hundred other ways that make it less valuable for me to be loyal.
The net effect, in my case, is I'm less loyal to any carrier now. I am still ExPlt on AA and will strive to continue to be but I shop based on price, nonstops, product (preferring Delta Comfort+ in many cases where an upgrade ain't happenin') and schedule.
I don't disagree with Doug's perspective, but they made a new bed. And I hope they're happy with its trappings because the side effects may not be seen for a couple of years.