That is what I thought; but many people pointed out that you have 3 yrs to use them and they can help nudge you to PP on slow years still.
Just get another Club Card for the years when you have 75 FEQMs already
I am fortunate that the FPQMs I have are the ones that don't expire as I earned them prior to 2011. So, if I can't apply them to get the extra GPUs/RPUs, I'll just hold onto them for a time when I know I'm not going to make status.
Since they "devalued" the EQPM aspect, and took away the mileage bonus, I don't use the card as often. I keep it because I would buy the club membership anyway, so I may as well get some of the other benefits the card provides along with the club membership.
But now most of my spend goes onto my spg AMEX as I can get better value from the points.