And if I was based in HKG there is no way I would sign that letter.
Without even considering your other arguments, that statement has more holes in it than a CX contract.
The point is that you might be HK based one day. I agree with santorum's assumption that you're probably a 20 minuter, which is fine, and I seriously hope that all of you in that basket can make your way into a legacy job - it's a win-win for us, where you get a more preferred job, and a crew shortage pressures CX to improve the remaining pilots' lot. However, just consider the fact that 1 day, if the FedEx/UPS/etc path doesn't work out for you, you might end up in HK.
Do as you consider best for yourself, but by taking a little short term pain, we can hopefully make some long term gain.