1) short answer yes - UAL no longer has hot reserve unless you ask for it
2) the rest of the story seems a lot more complex as it looks like this is meant to give a lot of tools/flexibility to give people in base more incentive to pick up trips, more premium options to improve staffing, and more ways for commuters to protect themselves.

Big question is whether the incentives in #2 are enough to make people in base take the work and whether the cost to the company is enough that they offer things. One example - there's now a premium SCR that pays 5:15 that any pilot can pickup. That seems like a profoundly powerful tool to fix schedule holes ... if they're willing to pay it. We shall see.