I couldn't care less about the loyalty rewards but unlike many other broken promises this one is part of the membership agreement and you have solid ground to stand on when filing a complaint.
It will force Funcom to either come out and straight up say 'thank you for paying, but we don't inted to ever work at this game again'. Or go against their own policy and actually work on AoC even if it is just a minute to add loyalty rewards. Either way it will be clear where they stand and if they have any expectations for AoC in the future whatsoever or just wait for the playerbase to decline far enough to shut down the server.