Did the increase in finding Shiny pokemon Fix or Ruin Pokemon?

So I've been curious about this since I've been lurking the USM forum and reading about everybody and their grandmother finding Shiny pokemon so easily.
It's obvious at this point that the likelihood of finding shiny pokemon has significantly increased while searching through worm holes.
My question is, does anybody think that this significant increase in finding shiny pokemon has ruined the value and rarity of shiny pokemon, or do you think that the increased chance of shiny pokemon is a much needed fix for shiny hunters?

I don't really know how the increased shiny pokemon has affected the pokemon community since I chose not to purchase USM, however I do have two contradicting thoughts about this change to shiny rarity.

1. The Bad. It takes one of the few rare and challenging parts of pokemon hunting and makes it significantly easier, thus decreasing the value of shiny pokemon. Shiny pokemon will become the new Legendary pokemon, everyone will have one.

2. The Good. Ignoring the obvious coolness of easily acquiring shiny pokemon, I had an interesting thought about the presence of shiny pokemon in the meta game. If everyone can find shiny pokemon significantly easier, it might possibly lower the likelihood of shiny hacked competitive teams. At the very least it might encourage players to not hack as much in order to acquire shiny pokemon since USM makes it so easy to find Shiny pokemon now. Obviously it wont stop hacking, but at least full shiny teams wont always guarantee that someone is hacking .

Since I haven't played USM I might be missing some details about how shiny pokemon are acquired in wormholes, so feel free to fill me in on the details if I'm missing an important detail on the likelihood of finding shiny pokemon in the game.

What do you guys think?

I don't think it is bad. The worm holes only have about 6 non legendaries each.

Legendaries and Ultra Beasts still require soft reset. S.O.S battles still takes time and patience. Same goes for masuda method.

For me it is great but i understand if people want the hunt to be challenging. We all have different preferences.

Hacked shiny Pokemon are the only thing that's ruined them. Lots of those go around in wonder trade, still kind of cool even though they aren't legitimate.

Well based on what Alexander18 explained, it actually sounds like that the shiny encounters are still limited based on the amount of battles that you are allowed to have while traveling through worm holes (which I did not know, so thanks for informing me), so it actually sounds like Worm hole shiny Pokemon are most likely just a new shiny acquisition gimmick sort of like chain fishing, horde hunting, and SOS chaining.
I would really be curious to know the actual RNG likelihood compared to all of the other shiny methods.

I really don't mind yet another method for shiny hunting, so long as the appearance of shiny Pokemon isn't so high that it feels like they almost are handing the Pokemon over to players.