They seem to have watered down the wording a bit - I suppose as they are only able to deliver the confirmed upgrade 50% of the time. I do think they need to invest more in the benefits especially compared to World of Hyatt Globalist for example.

2023:
Unlimited Upgrades1
An experience reserved for our most important members. We’ll request an upgrade with each of your qualifying reservations, and if we're able to fufill your request, it’s yours.

2022:
Unlimited Upgrades1
An experience reserved for our most important members. We’ll request an upgrade with each of your qualifying reservations, and if the next eligible room category is available, it’s yours.