might be off topic but I was Platinum, now gold, next year silver, following year bronze perhaps the year after I will be lead.
I have travelled no less but simply now pay for economy tickets and upgrade with points. my lounge and in flight experience is the same, only loss is perhaps multiplier of points.
my point is previously I used a shandy of JASA's and PAID business class flights to get and maintain that status spending many thousands of dollars a year to keep.
Now I don't spend 1/4 of the previous amount but I still basically get what we all used to strive for playing "the game".
in my book Alan Joyce has done a great job ( for me !!), opened my eyes and closed my wallet. I realise not everyone will agree