Interesting... Singapore Airlines may well be asking for a higher price for their miles. One of the big 4 banks just closed their Krisflyer cards as well.
The main benefit (from a FF point of view) of this card is that you can transfer to both QFF or other programs. If they axe the QFF option, then this card is no better than any of the Black/Diamond/whatever cards that the banks issue, and three times as expensive (or even more). Not to mention that those other cards have far simpler points earning systems.