I was bummed to hear about this news, but I guess we'll have to wait and see if it actually happens and how. I had the Citi AA card for a very long and used it extensively back in the day they offered Price Rewind - one of my favorite CC benefits. Once Citi killed that, I wasn't happy and called to cancel, thinking maybe they'd offer me some retention offer. Instead they gave me grave warnings about possibly not being able to get the card again in the future. So I said "goodbye cruel bank" and went to Barclay's.

I have the Silver card, which seems to sit in between Citi's Platinum and Executive cards in terms of fee and benefits (please correct me if I'm wrong here):

$199 fee vs. $90 fee for Citi Plat or $595 fee for Citi Exec
3x miles for AA purchases vs. 2x with Citi Platinum or 4x with Citi Exec
15k LPs, 5k at $20k/$40k/$50k vs. 10k at $50k and 20k at $90k with Citi Exec only
$25/day in onboard food vs. nothing with Citi (admittedly I've never once used this benefit)
$50/year in Wi-Fi credits vs. nothing with Citi
Companion cert vs. $125 flight credit with Citi Plat or nothing with Citi Exec (I would actually prefer the flight credit! - have never been able to use the companion cert)
Pre/GE credit vs. nothing with Citi Plat, only Citi Exec

Citi just doesn't seem to have an AA card that's comparable to the Silver one. You're either downgrading for half the cost and not as many benefits or "upgrading" at nearly 3x the cost and I guess I'd have to say different benefits.

If this happens and Citi retains the level of the Silver card as being somewhere in between, it might be interesting. Otherwise I suspect many people might have tough choices to make.