Yeah it's a 25% bonus 20K + 25% = 25k
OR A 20% Discount.
25K minus 20% = 20K. :P
The only value TrueBlue points have is the rare occasion, like right now, where points on flights are valued at a 25% reduction. Making some $113 dollar flights available for 5,200 points. That's a deal... but only happens, again, like once if not twice a year.
I can't think of any situation where the jetBlue AMEX has value over any other AMEX card. It needs a perk that puts it ahead for TrueBlue members, and currently has none.