I think that those rumors aren't true. This protein was really well priced, IMO, because they didn't spend much with flavouring, sweetener, packaging and of course top notch raws. Of course, I can't guarantee the 85% protein content but from my experience with other products, 90+ is above many other protein products quality wise. Never had trouble digesting it, mixing and you can easily feel the casein in the product.
But even for them, keeping the prices was impossible I believe, so they've decided to change the formula. I'd prefer they had increased the price (probably would still be the best priced, low carb protein blend).