Originally Posted by
hotelboy
Category changes are not a devaluation. In fact there is no value of points anyway. It’s all funny money.
Really? So if Bonvoy decided that all hotels are now category 8 properties, you'd not consider that an extreme devaluation?
In this case, the number of properties that went up in price (category) far outpaced the number of properties that dropped in cost (category). Combined with the also introduced inventory control limitations this certainly makes my "free" (paid for with AF) credit card night and my few remaining points worth less.