Of course earning the companion voucher is one of the features of the BAPP, and if your spend is £10k/year or more then it makes sense to hold a BAPP (if you value a companion voucher and avios).
Once you have earned the companion voucher the card requires an £82/day spend to break as you can downgrade keeping the voucher and get a pro-rata refund. My break-even figures were expressly written with that preface to the calculations.
We are going to go around in circles so maybe best we agree to disagree.
I've already said I see how you get your figures but to disregard the companion voucher is wrong, it doesn't matter when you get it, it is still part of what you get for the cost of the card and should be taken into consideration into your calculations. Like I said, maybe we best agree to disagree.
I will add,
if you can't spend £10k/year or have use of a companion voucher there is no point in having this card, you mention the companion voucher is one of the features of the card, in reality it really is the only reason to hold this card.