This is not news. Frontier has been growing a lot lately, and none of it is in Denver. We have built hubs in Cleveland, Dulles, Trenton and are going to build mini hubs in Miami and Philly too. This increase in capacity has to come from Denver. Lots of the trips now are 3 and 4 days that leave Denver and never return through domicile until the end of the trip. This allows Denver based flight crews to operate all the flights out of the other mini hubs.
Its a little sad to see Frontier cutting flights in Denver, but its not news or a surprise at all. Denver is an expensive airport to operate out of, and there is more money to be made elsewhere. Denver will remain the main hub of the airline.