I live in Vancouver (as stated under my handle)

The Iberia comparison to JFK you keep using has so many caveats that it's funny.

Requires off season travel.
Additional mileage required if you need to connect at all. Given that we're in Canada, that's a minimum of 4.5k extra if you're on the east coast, or 7.5k from the west coast (YVR to lax in economy), and that's not even counting if you aren't looking to just stay in Barcelona or Madrid.
Pricing only valid on Iberia metal, which means extremely limited destinations.

So for me: CX J to JFK is 37.5k plus your 34k to Madrid is 71.5k. Even if I took economy to JFK that's 46.5k total assuming I want to go to Madrid only.

Heck, Aeroplan doesn't charge yq on Turkish, United, Swiss or Brussels, so why only compare Iberia against Lufthansa? LH surcharges are comparable with BA's

AA has travel partners, credit card partners (with huge sign-up bonuses, like some people getting multiple 100k signups from Citi), dining partners and shopping partners

AS has travel partners, a credit card partner that allowed people to sign up for 5 cards at once up until recently, dining partners and shopping partners.

I don't see Asia miles being materially different to the above, and am certain that AA will go through it's own correction to align more closely to United and delta.

The Asia 1 devaluation is bad, and will requiring shifting the short haul and mid haul to Avios, but Aeroplan is hardly the worst program there.

My family is in Hong Kong so that's where I'll visit the most (remember yq is capped to HKG)

Alaska would be 100k round trip (but with 10 percent cash fare for infants)
Asia miles is 120k roundtrip (infant fare 10 percent cash fare)
United is 140k assuming I fly United, or 160k on partners (10 percent cash fare)
Aeroplan is 150k with $100 flat rate infant fare
Avios is 180k roundtrip plus 10 percent in miles plus 10 percent cash taxes (so 18k plus twenty bucks or so)