Na that's a separate change, they're specifically nerfing triple leves but increasing single leves, as a % based change, besides the whole "need less xp but get less xp" change. They're basically balancing leves better so triple leves aren't as much of an obvious choice anymore(and also nerfing the gold inflation issue that was created with current coffee cookies shit).
Current system is kinda weird, let's take Armorer last tier of leves, you can craft an annoying chest piece for 10m xp, a bit less annoying boots for 8m or a much less annoying belt for 5m xp. But the belt one can be turned in 3 times per leve, leading to a total of 15m xp. It's an obvious choice to pick belts because they don't require cross mats and require less mats overall, plus per leve you're getting 15m instead of 8/10m. The only downside is the time spent crafting, but it's not even that bad when you consider the amount of additional intermediate materials(ingots/cloth/leather) the bigger items need.
I assume they'll do something like nerf triple to 12m, buff armor to 12m, buff boots to 10m. This way you have a clear choice between easy to gather materials but longer craft time(triple), really annoying to craft shit but highest reward for time(chest) or sacrifice leve efficiency for both a shorter time and lesser material(boots). That's especially true when considering the other benefits, which are the gold(which is getting nerfed too) and the leve rewards which is crystals or materials(in this case ingots). The imbalance comes mostly from triple leves usually being easier items(belts, accessories, intermediate material combines and such) so the rewards are proportionally better per item(if you get 2 ingots back, it's better when crafting a belt that costs 2 ingots and 1ore than a chest that cost 2ingots, 1cloth, 1 yarn, 1 leather and some other bullshit).