OK, I've only recently been in to expanding my horizons, so to speak, with bourbons. Before I'd always been a one-bottle-at-a-time guy, but as my brother-in-law kept pouring me samples, I started to truly appreciate the nuances in various (types of) bourbons.
I don't NOT like wheated bourbons, but there more of a mid-afternoon drink for me. Not a whole lot going on, feels like something is 'missing', as others have said.
When MM first announced the lowering of the proof, I thought it sucked. Don't water down my drink!! Then I realized, I've come to like Larceny at least as much, anyway... and there are a ton of other bourbons and whiskeys out there to drink instead... and oh well, guess I won't be buying any more MM.
I have a novice palate, I'm probably in the camp they 'knew' wouldn't taste the difference anyway. Still, it's the principle of it all.
Ultimately, I did not care. I wouldn't have bought it if prices had gone up instead, I wouldn't have bought it knowing it'd been watered down to save them money/make them more. Odd PR move, perhaps poor publicity stunt.