I think its OK, though, as long as they keep some 'express' sailings which, after all, is what this crossing is all about. There should be more than one per year. Allow QM2 and her fans to get up to speed and experience an entire day at her quoted 'service speed' of 28.5 knots, as for QE2, QM1 and QE1.
I agree that some cutbacks have to be made in the current economic climate.
But, I'd agree with Rob that,
if marketed properly, some 'express' sailings, at a higher fare, could really do well with those that wish to travel to Europe without the hassle of airport security (the US Transportation Security Administration and their ilk) and the general lack of service and stress-creating atmosphere that air travel is today.
(Also, I could see a tie-in with the business relocation/expat market as well... take the QM2 to Europe, and we'll ship your household goods so you don't have to worry about them!)
Play on the advantages of peace of mind (see the popular "United Breaks Guitars" videos for an example of airline customer service gone wrong), luggage safety/security, stress reduction, and value (e.g., quality food included, etc.), and I'd think you could have a formula that would work if the marketing was done right.
(One idea would be to use some of the things that aggravate air passengers, i.e., liquid/gel size limits.)
Thoughts?