Any change will have its plusses and minuses, winners and losers. Genie+ is 'worse' for the FP+ powerusers *by design* (I agree with you there). But Genie+ is way better for the casual visitor.
Also, I don't think you can compare Genie+ directly to FP+ without considering Tiering. So while FP+ allowed you to book 3 in advance, a lot of those were throwaway garbage anyway. In the FP+ era, I don't think people were rolling in FP+ during busy holiday weeks either (aside from cheating the system). Also, if I recall correctly, the heyday of FP and FP+ was when park hours were significantly longer. Cutting hours cuts capacity and cuts number of passes available.