I disagree. I would say category should map closely to the price point, which makes it roughly as easy to get the same ratio in a high-category hotel vs. a low-category hotel.
Well, we'll just have to agree to disagree. At lower Cat properties, I can almost always find a rate that is a better value than points.
I would say that it is easiest to beat the 1c-per-point rate when hotel prices vary a LOT--either by day of week or by season.
It seems like you're saying that points are a better value when the rate is high. I don't think anyone is disputing that.
Hotels that have highly variable rates are often mid-category (4-6) properties. Corporate, loyalty and advance purchase rates usually mitigate wide rate swings. If the rate is very high, it could be due to unusual demand, which is an anomaly.