The old graphics setting wasn’t that great anyway, so it’s definitely not a bad thing that it’s going away. You don’t need to wonder why a feature was completely removed from the game because it’s a crap feature anyway and you shouldn’t like it because they did a load of testing and everyone agreed that it’s terrible. They even asked the art and engineering teams.
You should love this new graphics setting, it’s really solid and performs really well. It fulfills Blizzard’s goals and it’s the best they can do right now.
After Warlords release they are going to explore options for better settings, and they might even take a serious look at adding them to the game.
The graphical future has never looked brighter!