DisneyFoodBlog.com has some info on how the new system will impact those who currently have an annual pass:
https://www.disneyfoodblog.com/2021...for-disney-world-and-there-have-been-changes/
Scroll down to find the section on
"How This Impacts Current Annual Passes"
It's not "official", but I've always found their info to be reliable. Pretty sure they confirm with official sources before they post.
Anyway, I found the following statements from that page to be helpful - I have an exchange certificate for a new GOLD pass purchased under the recovery offer.
"If you have an Annual Pass that is NOT activated, like you have a certificate for a pass, this is different. To keep this pass, you need to visit the parks and activate it by September 7th. If you do that, you will keep your pass for the next year. "
"If you do NOT activate your pass by the 7th, your pass will be converted into the new Annual Pass system on September 8th. You will be given a pass that is comparable to the one you already have a certificate for, meaning you will NOT lose any of the perks included in that pass. So, if you have an unactivated pass that includes PhotoPass and the Waterparks and Sports option, you will not lose those perks. They will remain on your pass for free. Your park reservations will also not be changed or deleted."
In my situation, I would expect to exchange my certificate in October for a Sorcerers Pass plus the PhotoPass upgrade. So the Thanksgiving black out dates would apply to me. I would have to activate before 9/7 to use the pass for the Thanksgiving dates and would continue to have the Easter dates blacked out for 2022.