I've had some time to think about the changes. For perspective, I crossed 1MM LT 4 months ago.

If UA was just trying to make the upgrade list a bit cleaner for existing 1K (non-LT) members, then all they had to do was move companions down to PLT, not Gold.

By changing the companion to Gold, it does make me think UA believes they can pick up revenue from E+ seats that might be taken up by companion reservations of more than 2 people.

For example, when I travel for business and my wife joins me later, along with our two kids, they all get E+. In 2027, I would need to pay for anyone traveling with my wife beyond the first companion.

I have no idea how much extra revenue that produces for UA. But, I struggle to find another significant revenue source they realize by dropping companion from "earned status" to Gold (as opposed to Platinum).

Personally, dropping the companion from 1K to Gold (and not Platinum) is really painful, and strikes me as quite harsh on the part of UA. The decision not to grandfather existing elites, or considering a less painful drop in status for companions, will absolutely lead to me booking fewer trips on UA, if only because they charge more for E+ than other airlines on routes I travel.

To be clear, I'm 100% aware United took away benefits from MMers in the past. And, I was clear-eyed they could do so again. But, I'd be lying if I didn't convince myself just a little bit that they weren't going to do it again when I hit MM.