Well this has caused a stir big enough to awaken me from my FF slumber.
The fact is the "frequent flyer" is part of a "minority group" and as much as 120 pages of Flyertalk FF's threatening to take their business away from BA all looks rather frightening, my bet is that the changes will have virtually no negative impact on BA's bottom line.
The CCR will have fewer GL's in it but the majority of pax, from my experience, are flying F anyway so the impact will be minimal.
In the days when I flew the odd mile or two I am just the sort of BAEC member these changes were targeted at. In my annus horribilis of 9000+ TP's I (my company) spent something in the region of AUS$30k. I used ex OSL fares, paid upgrades into Europe, and exploited loopholes in the flaky IT system. I'm exactly the sort of FF BA does not want. It would be impossible for me under the new scheme.
After the furore dies down the very smart FF's will find the loopholes and tricks to beat the system, or they will move to another FF program and exploit that.
When QF introduced Simpler and Fairer, which proved complicated and inequitable I took stock and moved to BA and pursued Gold for Life. It took four and a half brutal years and hundreds of bottles of LPGS.
Now I await, with utter terror, BA tinkering with Gold for Life!