Perhaps Flying Blue might have made it easier if they had expressed it as follows:
Status downgrades suspended in the current membership year*
Are you a current Flying Blue Elite or Elite Plus member? If, by the end of your current membership year* you haven't attained the required level of XPs to retain your status - don't worry. We are suspending status downgrades for all such members, and all members will at least maintain their current level into their following membership year.
Did you manage to attain the required level of XPs to retain your status, or even climb to a higher status? Then congratulations - your new year of status will commence as normal!
*Applies to all membership renewal dates from March 2020 to February 2021 inclusive.