https://www.aa.com/content/AAdvantag....jhtml#Changes
A few AA awards are increasing in mileage cost. A couple of the awards are going up 25% and a couple are going up less. I think United is even matching some of these new award levels (or maybe AA matched United...I don't know). It's not mass devaluation. Your decision whether to fly AA or UA probably won't be affected by these changes.
The strangest thing about the AA changes is that they don't seem to make a lot of sense. It looks like they are effectively trying to discourage anyone from ever making an F/J award booking to Hawaii. Are they actually selling a lot of these seats? Are they going to sink a lot of money into making Hawaii F a great product? (Because it's only so-so now.)