It has been noted many times in this forum that CX is really trying to hold on to the hope that somebody else will pay cash for the empty seats as long as possible. Therefore, less and less award seats will be open and even release. There are many DMs and GOs in this forum complaining that even they cannot get award seats in a timely matter anymore, and CX made them sweat to the last minute, so it is no surprise of what you are experiencing.

Also, the date and time of your travel matters. If its a route that CX is confident they will sell out, they will be very reluctant to give you this seat for lesser charge.

Is CX a fraud? Far from it. At the end of the day more often than not you will get it when you are waitlisted, but yes, CX makes you sweat till like 2 weeks before actual flight time. Last year as a DM, they made me wait for my family's tickets 2 weeks prior to departure, this despite my bookings are "Top Priority" and ExpertFlyer says the plane is pretty empty.

Now if you want a fraud, try BI. Nobody I know that flies with them is able to secured any award seats from them.