I have to admit i agree with the OP to a point. Whilst English is still one of the more difficult subjects, simply because of the nature of it, they are without a doubt attempting to subtly water it down with the introduction of the Folio and the extended time for the Close Reading. However i do not anticipate next years pass mark to be so low, we got it lucky being the guinea pigs of the folio experiment.
For yourself, OP, i can see why you would be frustrated after putting in alot of work to make sure to obtain your A only to have others that put in the minimal getting C's and B's without breaking a sweat; and for some hitting it lucky and scraping the A.
For myself cannot help but be pleased with the lowered pass marks as English has never been a strong subject of mines, despite putting in effort. I achieved a B this year which i am more than satisfied with, however like yourself in the back of my mind i know that there are many fellow B's that simply did not deserve it, and i would also predict many more in the future.