Sad news if true, especially for new direct purchasers and for dues payments. I would definitely do discounted gift cards and auto draft for dues if that happens. That is what I did this year anyway.
I would probably keep it for a bit at least for the 1.5x redemption bonus. But I could see myself downgrading to the preferred. Or cancelling for a year or so and then signing up for another new member bonus. I haven't done that yet because of the usefulness of the card but if they want to keep raising the price and lowering earning potential, well I gotta get those points somehow lol.