Originally Posted by
Firewind
mecabq's case reminds me of an early business class breakeven point problem. In mecabq's story the left hand giveth, and the right hand taketh away in a larger context. Maybe even to the point of, "The further I go, the behinder I get". Makes one wonder how many people get caught up in this one. "Great for earning miles!"
And it raises the question, when do some of the programs, promos and practices discussed in this thread become rackets? The answer to that level of question usually depends on who's practicing as much as "running the numbers" (whatever definition). Also on whether the abused collectively have the wherewithal to press the question: When does it go beyond leaving it to the marketplace? The court's answer is, it depends on whether one can walk away.
Those questions may be too much for this thread, and FlyerTalk, but thanks to mecabq for this broader view and real world example of what some jokingly term "the mileage rackets".
Like anything in life, it depends what one values. As I mentioned in my post, I plan to use Emirates miles for first-class long-haul redemption tickets. But I won't rationalize the way that many FlyerTalk members do by saying, the ticket (e.g., SFO-DXB R/T) costs $21,000, or 185,000 miles, therefore the miles are "worth" 11c each. That is a fallacy, because I would not purchase the ticket for $21,000. I might be willing to purchase it at $5,000, so the real "value" to me of the miles is more like 3c.
Still worth it if I am paying 1c, of course, but there are also broader opportunity costs that one should value as well.