This means the current official release of Isabelle2014 (August 2014) is the last one where Proof General Emacs is still available as (optional) component; see the explanation in the published NEWS. After that its 15 years of history comes to an end, with the last 3 years an increasingly heavy burden and hindrance of further advances in Prover IDE technology (as represented by Isabelle/jEdit).
The TTY loop for the Isar toplevel has been removed as well, see changeset. It might appear rather drastic to have an Interactive Theorem Prover without the classic read-eval-print loop, but we need to recall that TTY interaction stems from the 1970-ies.
PIDE supports direct editing of theory documents as interactive sessions (or projects): this is more adequate for the interaction standards of the 1990-ies — a form of direct manipulation.
It should be noted that the general PIDE protocol infrastructure is sufficiently flexibile to support old-fashioned stepping through proof scripts as well, maybe even with some Emacs front-end. So Proof General veterans who do care enough about that may assemble at the proofgeneral-devel mailing list to prove that this old warrior is not-quite-dead yet.