There are quite a few people out there who have "generated" substantial amounts of award miles and have no LH status at all. Beeing able to use those award miles the most effective way for the next 31 months as HON and another 24 months as SEN is a big benefit for them. Add the 600k award miles, the other current perks of HON like e-vouchers as well as the "priceless" ability to brag with your new shiny black card in front of your friends and colleagues and that return on your 12k € investment might be considered as a "Top-Deal" by them...