[Canada]

True, though I think this is a dick move:

"If you cancel your account as a guest, any future reservations you have will be refunded according to the hosts' cancellation policy."

So, if you don't agree to this demand by AirBnB that wasn't on the table when you agreed to your booking, then you just lose your money.

If AirBnB was fair about this then it would let the user off the hook and pay out any cancellation fees/compensation out of its own funds. It's not like many people aren't going to agree anyway.

[dmurray]

It looks like you can "decline the commitment" but not exercise "the option to cancel your account" according to the language on the announcement. So I think they will let you honour existing bookings without agreeing to the new commitment.

[Canada]

You may be right. The wording is ambiguous on whether declining requires cancelation or not. Anyone seen the UI of the agreement dialog yet?