Well its neither brilliant nor is it terrible. As I am in the fortunate position of being offered free membership, but if it wasn't for that I wouldn't be coughing up(again I might add) to (re)join. Inspite of this I will probably only clock up a few flights and then burn the points before crediting all future flights to LH.
I'd be suprised to see many people actually sign up again ... with all the promos and incentives the other * partners have been offering I'm sure many will continue to just stick with that partner. Maybe this is the Tesna plan - let someone else carry the liability - not to mention the cost of administering the program...
Anyway, I'm sure some will be jacked off at the move not to reinstate points - but then if Tesna is going to be making a go of it then that option was unworkable. At least we can still queue up with the rest of the crediotrs and take our handout of a few dollars...