The "new Southwest" has unveiled what will happen after May 28 in some cases, next year on others.
First, the whole front half of the plane will have some sort of premium seat pricing. This won't start being sold until the second half of this year and won't go into effect until 2026.
Second, the "basic" tier will have a NON-transferable credit, should you change flights, and it will expire in 6 months, not 1 year. So, if you "jump" on basic fares, be forewarned.
Related to that? I've heard that these fares will be offered at the start of new dates for a flight route, to judge demand to set variable pricing after that.
Third? And most sneaky? This is NOT NOT NOT something MORE basic than the current bottom-line "Wanna Get Away," it IS that, just renamed.
Fourth, joining Rapid Rewards will not itself help you with your bag costs. But? If you buy a Rapid Rewards credit card, one of you bags fly free. And, "buy" is the term; most basic consumer card has a $69 annual fee.
So, unless you fly more than 2x a year on vacations of one full week or more, getting the card probably isn't worth it, especially if your current primary card is some sort of cashback / rewards card.
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