An upper bound on the security of Keccack is set by the expression
c + r = 1600.
'c' represents the internal bandwidth of the hash that is not directly controllable by an attacker.'r' is the rate (bits per expensive f() function invocation) at which the message input can be processed.
Due to some basic and well-understood attacks, we know that Keccak cannot be more secure than c/2 bits.
NIST was planning to assign SHA-3-256 and SHA-3-512 having 128 and 256 bits of security respectively. On one hand, this sounds like a nice conservative overall security rating based on the (lower) collision resistance.
But NIST plans to re-tune these internal constants downwards, setting c to 256 or 512. Whereas the competition final round submission specified c = 448 and 1024 bits. The resulting speed boost is 24% and 89%.
I don't think anyone should presume ill intent here on the part of NIST. But it sure doesn't seem like a good time to propose cutting security margins down to the limit of publicly-known attacks. The idea of a hash function which outputs 256 bits having only 128 bits of preimage resistance is unprecedented.