The intention was purely making the product experience better, based on common feedback from people (including myself) that wait times were too long. Cost was not a goal here.

If you still want the higher reliability of longer thinking times, that option is not gone. You can manually select Extended (or Heavy, if you're a Pro user). It's the same as at launch (though we did inadvertently drop it last month and restored it yesterday after Tibor and others pointed it out).