Also not excusing the game-playing but I was able to use my CC without issue (and combine for a second night on points) for a King room at the Hyatt Embarcadero later this year on the weekend of the Nike Women's Half Marathon that the gf in running in. I also had no issue using points for the same property for this upcoming 4th of July weekend (12k/night after 20% points rebate for CC holders).
Obviously we'll see when I get there whether they shove us in a closet or not but this at least this property doesn't appear to be playing games everynight and during every major event.
FWIW, I had no issue using my Cert from last year at the GH Bangkok in May and I was even upgraded at check-in as a Plat (from the CC) to the larger deluxe room instead of just the standard room.
In all three cases the value extracted from the Cert was far larger than the annual fee (~$175 was the list price at the GH and ~$306 is the list price for the HR Embacadero the weekend of the Women's Half and $325 for the 4th of July).
Obviously this is something to watch but at least for me the value returned from redeeming points / CC 1-4cert night has been perfectly fine.