You seem to valuing the points relatively highly in the comparisons. If it was cash, would you have still spent the money on those trips? If yes, then points come close. Another reason to get points is that I've found family is more accepting of point gifts than money gifts.

Otherwise, cash seems like a much better value.

You might also mix up the spend. It sounds like the 1.5mm was low value redemptions and the 800k for your parents might have been high value.

Finally, you might have a decent shot at annual fee waivers.