It's not valid, that functionality is only available for a handful of languages.People are shouting this one down over multilingual issues, and while that's valid, English users should care because of another reason: iPads. If you want swipe-style functionality on an iPad, you're not going to get it on the full-sized iPad keyboard. You need to shrink it down to the iPhone-sized, minimized or split keyboard to be able to swipe. That's a pain. Swiftkey allowed you to have the full-sized keyboard and retain swiping functionality.
This is horrible news. Once you get used to swipe-style keyboards, tapping letters feels archaic. It's similar in feel to the difference between typing with an on-screen keyboard and tapping out letters by repeatedly having to press certain numbers with old-style "dumb" phones.
Specifically English, Chinese (Simplified and Traditional), French, Italian, Japanese, Portuguese, Spanish, Dutch and Hindi.