It has both pros & cons. The good news is that you can earn a GoH certificate now after 40 nights with Hyatt, you don't need to be Globalist status. In addition, you could also choose a Suite Upgrade Award after 40 nights and use that yourself on a future stay or now you can gift the suite upgrade award to someone else. So in theory, after 40 nights you would be able to give a friend/family a Globalist experience at a Hyatt property and also transfer them a suite upgrade as well. That's a pretty nice flexible benefit that you couldn't do before.
The negative of the new GoH program is that you get a fixed amount of them. Previously, you could give GoH an unlimited number of times but only on a points based redemption. Under the new program terms, you will have a fixed amount of GoH certificates to use but you will now be able to use them on points or a cash stay.
I know of some people that used more than 20+ GoH redemptions for friends & family this year. So they are not especially happy with the new GoH changes because now they will get a fixed amount rather than unlimited. However, the other changes to the program are mainly net positive so overall I think its a step in the right direction for Hyatt.