Spoiler:

Who do these Changes Hurt?

• Constructed Grinders: If you are looking to make playing Magic Online a source of income, the dream is dead. Not only is the cost of cashing out significantly higher (as we just talked about), but the best events for grinding (Dailies) were gutted. The cost of entry was doubled and even counting the fun money at full Wizards value, payouts were only increased by 26 percent.
• Most Constructed Players: If you already have a significant Magic Online collection and only care about playing as many two or eight man queues as possible for testing purposes, this change isn't that bad for you. If you compare it to playing for 2 tix boosters, it's probably a net positive. However, new players who are looking to build an inexpensive deck and slowly expand their collection from their winnings get crushed since their winnings can no longer be easily turned into new cards or decks.
• Average/Bad Limited Players: Assuming this change has its intended effect of increasing booster prices, joining a limited event will be more expensive. This means if you do not have a reasonable expectation of winning prizes, you will lose more each draft than under the old system.
• People with large collections: While this is likely (hopefully) a short-term problem, the value of cards on Magic Online has crashed over the past couple days. While this is likely due to a combination of forces (the end of Modern season and normal sell-offs in preparation for the Magic Origins prerelease events), there is little doubt that the play points announcement is playing a significant role (most of the people I've talked to attribute between 30 and 60 percent of the downturn to the payout changes).

Who do these Changes Help?

• Good Limited Players: While average and poor limited players will lose more per draft, good and very good limited players will actually come out ahead with packs being worth more. When packs cost $2, you'll pay a total of $8 for a chance of winning $16 (a 100 percent gain). When packs cost $4 you'll pay $14 for a chance of winning $32 (a 129 percent increase).
• Constructed Players that Only Care about Playing Another Event: If you have no real interest in cashing out or growing your collection, these changes actually help. You don't have to worry about low booster prices and instead you know that, no matter what, a good performance in a two or eight man will guarantee you at least another event and a half.
• Wizards: They get more money in their pocket. Even better, they get to do so under the guise of fixing a problem.