Dilution of status and the frequent flyer program in general has been happening for at least the past 12 years.
Upgrade credits replaced by loyalty bonus which has since been enhanced 2-3 times. For reference 3 UC's earned after 1,200 SCs were good for a one-way upgrade to business SYD-BKK/HKG/SIN from any economy fare class. An upgrade to business today from an upgradeable fare requires 40,000 QFF points?
Anytime lounge access taken away and replaced with domestic arrival access after the backlash.
Complimentary exit rows on international flights is also gone.
Minimum points guarantee has been reduced to 800 QFF points which was a 20% devaluation. I now need 125 SYD-BNE flights to earn 100,000 QFF points where as someone can churn multiple credit cards and easily earn 100,000 QFF points each time for a cost of $400-$500 for each churn and sometimes even less if first year fee free.
And with other banking and shopping promotions someone can earn 100,000 QFF points for very little outlay.
As you can see the points I earn from flying are almost worthless. It is no longer a frequent flyer program but a frequent spender program. I see less and less award seats available especially during "peak" times. From early February there was very little award availabilty from Asia in July.
I can't plan 12 months ahead. I'm being punished for being a frequent flyer. I should be able to access award seats 5 months out.
Add to this that you can now buy SCs through credit card sign up offers. It is a frequent flyer program in name only.