How Far Away Is Beetlejuice?

Betelgeuse was revised to be only 530 light years away. The previous estimate was 724 light years, 25% closer and a little bit more actually. It's smaller and closer than we thought, not bigger and farther away. My image of Betelgeuse is forever shattered. With the same feeling of disappointment at it that I had about Pluto being a dwarf planet.