I think this issue mainly affects the Hertz Gold program more so than other rental agencies. I've been pretty happy with National's Emerald Club ever since I switched from Hertz. The use of the ES aisle is a huge bonus at YUL as I have the opportunity to find a car I want without having to negotiate out of an assigned car. As well, the free rental days are pretty generous considering that I usually do daily rentals and as such get about a free day for every 6 rental days. These benefits don't come cheap however and a weekend day can cost me $57 all in for an ICAR/FCAR at National compared to as low as $30 prepaid at Hertz. However, I am willing to pay nearly double as National's fleet selection is much more attractive than Hertz Canada's seemingly homogeneous fleet of Corollas, Rav4s, Journeys, and Grand Caravans.
Overall, the Hertz Five Star or PC level isn't really that attractive. Ideally, they could sweeten it up by including benefits for loyal customers that cost them very little such as free NeverLost or XM radio with each rental.