That is my worry too. I have been Elite a very long time and have enough banked years to make me effectively Elite-for-Life, and Mrs edmm has some banked years too. We don't want to lose that, and Air NZ have a habit of bringing in "enhancements" that leave everyone worse off.

These changes to loyalty have been promised for years, and my expectation is that they will take a lot more time to come in, and be a huge disappointment- another unattainable higher level, and more dilution of benefits for Elites. After many years of hoping I have given up on ever getting anything decent from Air NZ in exchange for long term loyalty.