Yes I think that is the case... basically the club are treating giving up a season ticket as the ultimate act of betrayal (rather than loyalty).
Points will dwindle quick enough as consecutive years STH points drop off, and other points are halved each season. It seems unnecessarily harsh to me.
Probably not to further penalise those who can't afford the time / money or maybe physically unable to travel to go to such prestigious matches. Seems fair enough to me. It's not really about points, is it?