To be clear, this policy change is not a unified move across the oneworld alliance. To my knowledge, lounge access policies remain unchanged with Japan Airlines in Germany, as well as with Qantas and American Airlines in London. Even Cathay Pacific's own lounge in London does not enforce such a restriction. This appears to be a unilateral policy unique to Cathay Pacific lounges at Hong Kong Airport.
Of course, passengers are not without options. Cathay Pacific is not the only airline flying to Asia. When core service values are unilaterally diminished, the market naturally offers alternatives.