Well this is a new wrinkle to me, and not a good one. It seems that one of the things I like about the immigration bill, that is emphasizes skills and English proficiency and other traits as desirable for citizenship, is partially offset by the loss of EB-1 visas.
No, I hadn't heard of them either. EB-1s allow highly talented individuals (scientific geniuses, top athletes and artists, etc.) to fast track their way to permanent residency. A point system is nice, but there are always outliers with intangibles that get missed, and American companies, universities and the like benefit from their being here.
The Washington Post has the story, where there really is no defense of why it's going away. I may be missing something, but it's hard to see what.