Speculation? Sinister? Profit-maximization by attempting to reduce costs is business as usual in the industry, including by considering the loyalty program aspect of it. Expecting Hyatt to maintain being different at this point is expecting a bit too much and then some, when it comes to the direction of award night pricing and internally-funded and/or franchise partner-funded promos.
Promos funded by Hyatt and/or particular Hyatt hotels (or groups of Hyatt hotels) is not the same thing as promos funded by a credit card partner. And decision-drivers for Hyatt or other major hotel companies is not a perfect copy of the decision-drivers at the bank partners for a hotel loyalty program. To expect things to play out differently with Hyatt over the longer term is like expecting the Brooklyn Bridge to be for sale -- just not realistic anytime soon or even later.
Trying to delay/push costs out over a targeted horizon is also away of reducing costs in the short term, and its part of the games corporate management plays that have an impact on their more internal audiences, their less internal audiences, and their external audiences. Typical corporate behavior in this industry.