You're buying the BS Elon peddled to sell this change.
The check was intended to verify the identity of a specific type of person, which many people know, and therefore is at high risk of impersonation. That's it. Making the check $8 voids this purpose, and to add on top of this, the most vile group of people bought into this subscription, who are Elon's sycophants and go after him like dogs doing whatever he wants and repeating what he says.
Of course no one looking after their image would want this blue check anymore.