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I am blessed with awesome PG's and my initial gut reaction was shock and disappointment. However, I know many players in the Midwest who were experiencing different reactions, some were actually pumped and excited about the news. So, rather than try to write an article about why I'm right and they are wrong I tried to write a balanced Pro/Con list of what I see as benefits and negatives this move will have for Privateer Press. Included are some anecdotes and reactions I scavenged from the internet.
http://midwestwargaming.com/two-sides-every-coin-press-gang-program-dissolved/

From what I understand, WotC is being sued by Magic Judges who felt they were being under-compensated for what was being asked of them. The courts are saying Magic Judges are employees, not volunteers. Ending the Press Gangers is likely PP hedging their bets and avoiding a similar suit.

No sure about pros other than Legal protection

Also they always uses retail stores as an excuse for their actions over the last few years.

Cons for them is the PG program has been a major recruitment arm for them. Most of their Top Staff (that aren't founders) started out as PGs. Not to mention that the PG program was their main connection to the player base. PGs were a major way they new what was going on in different METAs over the world.

As much as the player base feels disconnected from them right now. Losing PGs really hers them as a buisness, and I'm sure they wouldn't have done it if it wasn't for the WOTC lawsuit.

They depended on that program alot as a company, it was a vauble asset I'm sure they are sad to lose