Actually they did not deflate any value of the current magazine offers.
Here's my "educated" guess - probably more than 95% of all redemptions went to the free magazine offers and it might not have made sense to continue to carry admin and other expense for the other 5% of actual redemptions.
As long as they didn't change the rate of redemption for the mags then we're all set. Too bad more members did not see the value of the certs - i know I did and benefited from them.