For me, it's about the points. I tend to stay at lower-end hotels where internet and breakfast are already included (like a Fairfield Inn rather than Marriott), so the perks of status are less important to me.

I tend to focus on IHG and as such have platinum status, but that's less because of the "perks" and more from the coincidence that IHG hotels tend to be in the locations I want at the prices I want When IHG won't work for a particular stay, I have no hesitations booking with a different hotel.

In the meantime, I love cashing in my Priority Club points for free stays, but also have some Hilton & Marriott points banked.