Well, they can refund me the price of the bumper I already bought, I suppose. I'm certainly not going to reject the offer.
But personally, I'd like to see what another MacRumors poster stated. In a nutshell, "we've already implemented a fix on phones produced after a certain date" (most likely a coating On the antenna and possibly something that addressed the proximity issue so many are also having.) "Phones with serial numbers falling within X range may be affected, and owners can choose to have them exchanged or to take this fabulous free bumper, blah blah blah." (wording mine, I'm too lazy tonight to go find the original!)
For the record, I have a week 28 phone, in a bumper, in a strong signal area, and without most of the major issues others have experienced, so I'm not directly affected phone-wise by the issue. I am, however, a shareholder, and at this point, I think Apple's reputation will continue to take a big hit until/unless they address this directly and forcefully. Their response so far is pitiful, and a beautiful example of what not to do in a PR crisis.
It'll be interesting, that's for sure!