Current promotion (2 stays 1 free weekend night) is still running and some are enjoying the promotion.
Every decision is up to you, not starwood nor other hotel programs.
If you can take advantage of SPG promotion, just stay at Starwood.
If you can not, stay somewhere else.
Correct and wise observation.
Now let us look at the competiton:
IHG - 2 nights = 1 free night/no points - Ends 7/3
Hilton - Nothing really.
Marriott - 3 stays = 1 free night (maximum that can be earned) - Ends 8/31
Hyatt - 2,500 bonus points & Double stay credit (ends 6/30) & Fast Track to Platinum/Diamond (5 stays/15 stays)
There you have it -- make your choice and be done with the whining.