There are definitely a mixture of good and bad aspects in the new program, for my purposes.

I like the family account and YQ elimination for AC operated flights.

I don't like the overall devaluation of about 25% for the routes I would normally travel.

I also need to see how the YQ elimination on AC flights works out in reality - will they charge a higher amount of points due to their implied message that AC rewards will actually be a blend of fixed-mileage and market-fare points required? Or did I get that wrong?

This is a significant reduction in benefit.