Thanks for the replies. I just realized that I had wrong calculations and never submitted my edit until now. Could you please re-read the OP and let me know if you what have said so far still applies?

smb12, I had not thought about the opportunity cost. That is something for me to keep in mind.

RandomBaritone, I know the ratio varies which is why I gave the mint example since those prices are pretty standard with $598.10 being the lowest you can find recently. One thing that prompted me to make this post is I recently booked a roundtrip ticket to SDQ from JFK during a recent sale. The cost in dollars would have come out to be $366 but in points I ended up paying 8000 points + 104 in fees and I am trying to figure out if I ended up saving dollars by using my points. In this case the point value is definitely higher than 1.3