They assure me that my new room is almost as nice, but has more techy stuff. It's a bit of a hassle, but I overheard another hotel guest complaining about the alternative he got. Caesars' overbooked: he was told to check into the Flamingo last night instead.
Followup: based on the price on the back of the door of my new room ($700 is listed for a $180 room) the room I was In last night was a $6400 room ($25,000 listed on the door).
I doubt I'll ever see the inside of a room like that again.