As a vignette of where things are heading, my wife and I (Gold / Silver respectively) have today been doing some long range holiday planning for 25 and 26. Our trip to Lisbon that would have been a BAH in October (previously 80TP / 160TP double) is now going to net just 1000TP - so we're instead going to take TAP for the first time and try them out. Our long haul F/J to west coast canada was going to have been BA (likely via a US gateway city then a One World transfer) - now we're looking more widely and finding better routings for us on Air France and US carriers. Our far east F/J trip will be likely Singapore or QR over BA.
My point is that this time last week, this would have been an unthinkable conversation, such was our brand loyalty to BA. Today BA is now seen as an also ran along side a lot of other players for 3 trips that collectively we'd be looking at £20k of spend between 2 of us over 18 months that is now lost to BA. We won't be the only people in this position, and we're voting with our feet.