IMO the prestige is a great premium card and better than the platinum...for non-premium customers . I highly doubt I'm in the ideal (from cc issuer's view) income bracket for the prestige or amex platinum and don't travel nearly enough on paid tickets to make many companies happy. Lounge access (particularly the so-so domestic ones), while nice, isn't a must for me.

However I've made great value out of the economy companion tickets, very flexible airline refunds, 15% off economy and TYP for flight redemptions to about a $1,500 first-year profit over the AF. These are things that are likely not as important to the folks that they most likely want - eg the 100sK+ annual spenders who care about convenience above all. However, it's a phenomenal card if your primary concern is getting to new locations and not perfect customer service (nor even always well-informed, for that matter), great/well-executed travel benefits or luxurious travel.