I've talked to several management members at IHG about this change. Apparently, this change is quite popular with RA. RA doesn't mind the loss of the Minibar benefit. The feedback that they received is that RA gets 500USD to spend, and it lowers the cost in administering the programme. It's a win-win.
If RA think otherwise, you may want to write to Heather, the chief customer officer, in charge of leading this charge, at the following email address.
heather dot balsley at ihg dot com