Was this announced today? Because, if so, I have a big procedural problem with this. Cutting a benefit with 0 hours' notice (or, even if they announced the change a couple days ago, 48-72 hours') is unfair to consumers. And so gratuitous.

I seem to recall that Delta pulled a similar devaluation stunt (was it with respect to SkyMiles refundability?) a few years ago. They said, goofily, that they couldn't provide any advance notice for some legal reason. I'm not going to provide any legal advice here or claim to be an expert, but I was very, very skeptical.