Like I said, I don't expect Elevate to win a lot of fans on FT. It's not a good value compared to legacy programs where your return is based on miles flown instead of spend.
However, as I also said, please note that miles flown is only loosely correlated to spend. It's my firm assertion that in many cases, legacy airlines are rewarding unprofitable or marginally profitable customers with frequent flyer benefits far out of scale to the revenue they return, and that affects the quality of the onboard product and overall experience (and this is part of why we've seen FF programs and the F cabin get watered down over the years). VX has made the decision that when it comes to their elites and their F cabin, you get what you pay for, and their goal is to not reward the marginally profitable/unprofitable customer who can figure out how to do a 1.5 cpm mileage run. I think that's tremendously sensible. It's also my feeling that the number of people who really exploit the value of FF programs to their maximum value (intercontinental F) is actually fairly small, so VX could easily get away with their approach.