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The value doesn't necessarily stay exactly the same come 2019. We don't know yet how many hotels that are "nominally" 25k will move to 30k for "high season" and how long that "high season" will last. And the cert from the card will presumably not work for those "nominally" 25k hotels when they're at their "high season" rate of 30k.

So currently any hotel that's 25k, the cert works all year. Come 2019, that won't be universally true. Isn't it valid for some to view that as a devaluation? (Of course, is it valid to assume that before we get the details on which hotels will have high seasons, and how long those high seasons will last?)