While I would describe the experience as uneven its not without its perks. I average an upgrade to a larger room/suite about 50% of the time overall - probably 2/3 of the time when staying at HIEx - far less at regular HIs as they usually have very little suite inventory.
That said I'll definitely admit PC Plat isn't comparable to HH Diamond or Marriott Plat. When you get down to it PC is about running the promos which creates a far better redemption value return that I see in the other programs. (with promos I'm seeing about 35% of my spend come back in point value)