There's kind of 2 sides to the coin. On one end if what's best of the competitive scene is to go back to Halo 3 (TBD, we don't know how it will work out) then cool. If that's what people enjoy watching and playing the most then that's what should be in tournaments. However, on the other side it's kind of a slap in the face of 343 because of all the effort and money they've put into the competitive scene with Halo 4. Halo4 GC being the biggest one there.
Well I would say let's go back to Halo 2 or Halo CE to also give Bungie a slap in the face, but those have no working online custom system anymore for scrims, and they look awful being streamed.
We got a slap in the face with Halo 4, I wouldn't be that sad to give 343 the slap back.