Same argument for hotel rooms. I can book an "internet only" non-refundable rate or a higher refundable rate. Same room type and perks subject to your particular hotel program status.
However, I can't upgrade to the President's Suite on the basis of some non-existent coupon...
Compared to what a fully-refundable mid-week fare would have cost pre-CCAA, the Lat fare is a pretty good deal.