I just checked and the increased costs have also been implemented on the "buy miles" offer. They no longer offer ANY bonus miles with purchase, so extra miles cost $27.50 per 1000 miles.
This means that if you need to buy all 100,000 miles (the amount necessary for free R/T business class from North America including Canada to Asia on Cathay Pacific) then it would cost you 100 x $27.50 = $2,750. Sure was a sweet deal a couple years ago when they offered 30% bonus miles!
Also I should mention that Coach Fare only costs 60,000 miles.
BUT: If you plan ahead it's easy to get these costs down. I currently have nearly 50,000 miles in the bank, and won't need to book my next trip until February so I should be able to get that for the cost of about 20-30,00 miles (approx. $550-825 based upon current miles cost).
Also, even if you signed up today there are a number of promotions that get you immediate miles:
25,000 Bonus Miles on Approval with Visa Signature
Earn 25,000 Bonus Miles upon approval. That's enough miles for a round-trip Coach Super Saver award flight anywhere Alaska Airlines flies in the continental U.S., Alaska or Canada.
20,000 After First Purchase with Visa Business Card
Earn 20,000 Bonus Miles after first purchase. Continue earning miles for all of your business purchases, and earn 3 miles for every dollar spent with Alaska Airlines.
2,500 Bonus Miles per Approved Visa Referral
Earn 2,500 Mileage Plan Bonus Miles for each person you refer who applies and is approved for a new card.