VX's program isn't totally useless - I spent about $4,000 on VX last year and so far have received two free trips that would have otherwise cost me about $100 a piece. There's a bit of value in that, but I would have received a much better value had I spent that $4,000 on just about any other airline. For those who spend under $1,000 a year, redeeming is nearly hopeless.
Sounds about right. And I do think Elevate is a lot more stingy than RR.