I suspect this thread is as "lively" as it is because Hyatt went from having the MGM properties, which stretch across nearly all price points and locations, to a single hotel. If Rio's parameters match what you're looking for - cheap, a bit off the beaten path, good rooms but a bit rough around the edges, then it will do fine. But if you're otherwise looking for a luxury property like Wynn or Venetian, or perhaps something in the middle like Mandalay, you're going to be disappointed. Probably doubly so given that there used to be a number of Hyatt-affiliated properties that likely were good options for you.

For us... Rio isn't what we are looking for when we go to Vegas, and that's fine. It's disappointing that Hyatt doesn't really have any other options, but it is what it is. If that sounds like you, put some extra spend on a WoH credit card, earn the tier nights that way, and stay somewhere you actually want to stay.