I honestly don’t see how this is even a debate.
The squish is highly beneficial.
I’ve lost count of how many ICC players I’ve seen in Global offering thousands of ICC gold for just a few hundred Onyxia gold. That alone shows how inflated ICC’s economy has become.
And considering how old ICC is, a squish is necessary to keep the realm’s economy relevant.
Central banks in real life do something similar. They don’t make money disappear — they simply reduce the rate of money print.
Since the squish affects everyone equally, you don’t actually lose purchasing power, you increase it, because everyone still holds roughly the same relative amount of gold, but prices go down.
The only understandable complaint would be from people who were saving for fast flying or a mammoth and suddenly feel further away from their goal. But since the squish was announced in advance, they could have bought materials to stock up, which will rise in value again over time and be resold later.

