I think even if I dropped all the way to a very infrequent traveler, I'd still play the loyalty programs. There's still *some* value there.

I have LT Gold on AA, so that's a checked bag + priority checkin on Oneworld.

I'd probably acquire and keep Aegean Blue by flying just enough UA/US for it: again, a checked bag and priority checkin on Star Alliance.

I'd keep all of my hotel credit cards. They're good general-spend cards, better than a cashback or mileage card, so I'm getting some free nights and (in the case of HH) elite status for no real cost. If hotel cards were worse than mileage or cashback cards, I'd probably say the opportunity cost isn't worth it.

I probably wouldn't change my hotel stay patterns much if any. In the places where I prefer a non-brand hotel (B&B, boutique, campsite, whatever), I already book them. In the places where I'm willing to pay a bit of a premium for a big-chain hotel (much of Asia, the Middle East, and many large cities), I'd at least have the status and some options like SPG, PC, or HH Cash & Points to use to stretch the pool of points across more leisure stays.

I wouldn't chase elite status at hotels via stays, of course, so I'd be giving up SPG Platinum. That's really the one status I'd miss.