I'm sorry you feel that way... it seems to me that the idea here was to make the process more "open-ended", so that no matter how high you've risen, there is more to go. That's how it is in programming, and in most of life - no matter how good you get, there is room for growth.
Sure, I'm disappointed that I won't be "saint" any time soon, or that I got "demoted" to hermit. And yes, I'm going to have to learn a whole new set of names, all that stuff - but so what? The number didn't change, only the name attached to it. That number is a better reflection of how I'm doing, than calling me saint, pope, lord high everything, supreme astronaut, or whatever.
I believe the result of this change will be to encourage those who had reached the "saint" position to continue, even though some may have felt like they'd "arrived" or "made it", or whatever. A saint with 3000 points isn't necessarily the same sort of programmer (or participant in Perl Monks) as one with 8000 points. Why should the same name be applied to them both?
Anyway, I'm OK with the change, though I agree that perhaps a bit of user input might have been appropriate. Perhaps over time this change will be more palatable to others, too...