A $10,000 spend to redeem for the cheapest one-way F seat on a transcon is pretty bad. Compared to a traditional program the top end rewards are still pretty out of the ball park in terms of the competitive landscape.
Well, yeah. That's sort of what I've been driving at in the forum: VX transcon F is going to be priced low compared to the legacies, comparatively speaking, but they just aren't going to give it away, period, unlike the legacies- it's cash on the drumhead or back to Y with you. From everything I've seen, VX really, REALLY does not want the "upgrade party" other airlines have had in their F product as a result of FF programs and elite status, which has really downgraded the quality of the F product they offer (go look at the UA forums for many, many examples of that).
Whether or not that's advisable or something they'll have to abandon is up in the air, but it certainly seems to be their approach, and I think they may have a point- market your luxury product to people who can afford it at a consistent price point that maximizes return, instead of charging a great deal more to some people so you can give it away to other people.
Cash+Points would be really helpful!
I do wonder, though- can you use cash to do a day-of-flight F upgrade on an award ticket in Y? That would SORT of be what you're asking for (though on the popular VX's transcon routes, F tends to sell out, so it's less than what you'd want, ideally).