What changed was that originally, only experienced flight paramedics took the exam. So if someone had "FP-C" behind their name, you knew they were the real deal. As soon as you started seeing "certified flight paramedics" who actually weren't flight paramedics at all however, the credential became less meaningful because then it told you nothing about the person's background.
It isn't just the FP-C; the same exact thing is true of most of these alphabet soup exams. CEN, CFRN, same exact thing. These boards are certifying people in fields that they don't have any practical experience or even any formal training in. The only one I can think of off the top of my dead that isn't like that is the CCRN, which does require both experience and structured training in critical care and consequently, I think it is the most respected and rewarded of all these certifications.
When a brand new paramedic with no critical care training or experience can possess the same credential as someone who has been doing HEMS and CCT for years and practicing at a very high level, then what does that credential tell you about the folks who hold it? Nothing at all, beyond the fact that they both passed the same 1.5 hour long written exam. That's it.
I understand that it's basically become the entry-level credential for paramedics who want to get into CCT and HEMS, or is at least heading that way. I also understand that paramedics who want to advance and set themselves apart have few other options. So I certainly get why people with no HEMS experience are taking the exam, and I don't hold it against anyone. I just think it would carry much more weight if there were a little more to earning the credential.