A case like this should be flagged much earlier on. AC should notice that someone who has flown them 700K lifetime, and is flying 140K a year could potentially being them more revenue particularly if he hasn't flown the requisite 10K.
A simple reminder email that "We love you, but please note that to requalify for next year you need to fly 10K. BTW, did you notice our awesome sale on fares to XXX?" could be sent out in September.
Beyond that, someone who flies 140K per year but not even 10K on AC, is someone that AC should want flying 140K on AC and not on someone else's metal. Efforts should be made to capture that customer and get his a$$ on AC metal.
And in this specific case, I think AC should grant the OP at least E75K if not SE100K with a note to please make sure you fly 10K on AC metal this year.
So sad that AC doesn't care about simple basics.