Yep just got the email.

My take is that AMEX has learned cardholders are incredibly sticky and that they don't lose a substantial number even when they jack up the AF without a commensurate increase in benefits.

The value prop for this card will really only pencil if you're a heavy user of the 4x points categories. Otherwise you have to really work at earning marginal monthly credits to get even close to the new $325 AF.

Big contrast with Plat, from which I get literally thousands of dollars in excess value every year.