I don't think you understand what we are talking about. We're not searching for caches we have already found. Those are easily accessed via our profiles.
What has been degraded is the "search" function that was already very frustrating.
Searching for a cache by name when you don't know the name is now even more frustrating. Before this "enhancement", at least you could search for a word, for example "Challenge", and you would get a list of results. Now you need to know the first word of the name of the cache. Yeah, right, that's a lot of help.
Go ahead and try it:
Do a search "Cache starts with" and use "Challenge:
http://www.geocaching.com/seek/
And I'm not seeing any performance improvements. If anything, the site is reacting even slower than previously.
B.
I realize my ignorance on the issue, now. Sorry. I'm learning here. The decision is pretty stupid...