I agree. I'm still debating where I come down on this card given the relatively few perks for EXPs vs. the high-fee.
For an EXP AC member who currently pays $300 a year, the card is basically $150.
Forget all of the priority and free checked bags perks as those are not perks to EXPs. This is really a question of whether no foreign finance fee + 10k EQMs (at a really high $40k per year threshold) per year + 2x AA miles on AA spend (though most of us are spending all of our "AA dollars" at Costco these days) is worth $150.
For a gold or plt who pay more in AC membership this may be more of a no brainer.