Yeah, but at the same time you can get cash back and wait for there to be a sale on miles with whatever carrier's miles you want, then buy them with the cash back.
You have to be more patient with that method obviously, but at the same time if something comes up that you really want to buy but otherwise wouldn't have cash for, hey, you've got $1340 on hand.
A very good middle ground between pure cash and lots of miles is Ultimate Rewards or Membership Rewards points that can transfer to airline/hotel partners OR come out as cashback if you want them to. So I'd go with Chase Sapphire Preferred + Chase Freedom's 5% categories (that card's free so why not have both) if you are looking for one points structure and a maximum amount of bonuses. You'll run into stuff that's not currently a bonus category, but 2x on travel and 2x on dining on one card + 5% rotating categories on the other will cover an awful lot.