I nearly didn't renew my pass in October last year - it was just getting too expensive to justify. Back then the Signature pass was still $999. I considered the Deluxe Annual Pass, but most of the summer was blocked out and one of the main reasons I wanted to renew was to see SWGE when it opens. I also considered just getting a SoCal pass, but I like to occasionally go on weekends to catch up with friends. So my only real option was a Signature Pass or no pass at all.
So this new Flex Pass will be perfect for my situation, but I understand it won't suit everyone. It will still provide me with plenty of "Good to go" weekdays (when I'd normally go), plus the chance of the occasional weekend visit. If my Signature Pass were expiring this summer I would have certainly downgraded to the Flex Pass. Actually, after 5 years of Premium/Signature passes I wasn't planning to renew at all at the end of this one, but with the Flex Pass the incentive is there and I'll likely get it (assuming the price remains $599).