I don't think this change is that big of a deal, but unfortunately I do think it will impact, possibly a lot, the number of 'recruiting' tournaments that draw first-timers. I ran a tournament two weeks ago that had 12 ranked players and 46 first timers. WPPR value was crap (as it should be), but would I pay $58 for it? No. That's an extreme example but hopefully illustrates the point.
Whether or not it should be, the carrot of putting people on the route to being a world ranked player puts butts in front of pins. And some of those people go on to do important things. I can easily think of a dozen people who started in those newbie events who are now fixtures in our local scene, not just participating, but running everything, and ranking was 100% without-a-doubt a big motivator for them.