I agree with you about the API, it seems to be one of the first things to go.
Though, killing it would be expecially dumb in this case, as it is what made trakt famous in the first place. It's really useful to have a scrobbler for every major service, and I use it for a dumb side project.
I'd really like to know what else they think they are adding with their service that is worth $60/year. The data comes from tmdb, the trailers are youtube links, reviews and lists are created by users (when they are allowed to). Sure, they package it all together, but I wouldn't call the website a masterpiece of neither form or function.
I hope that the current backlash will make them (temporarily) revert the change, but this is still a clear signal of the path they are willing to take. I'll be looking for other services.
I had a similar experience looking up the code for โฅ, I didn't realize the world has given a very specific meaning to the words "latex bottom"