I noticed this too. Could have canceled a flight where I paid 8500 points (WGA) and repurchased as a BASIC for 5000 points. If 3500 points used to be worth $50 (approx) a cancel / rebook would have a net savings of $15 after you pay $35 for one bag. YMMV if you have a credit card. Not worth the hassle given the number of unknowns at the moment.
Southwest may have won this battle, but every future booking for me will have me checking F9 and UA to see if they have a better offer. I never used to do that. So is that winning the war? I don't think so.