I feel like that JPM is going to make the PC more exclusive by offering it to their PB customers only. By introducing the sapphire reserve, this becomes a direct competitor to AMEX Platinum so they can offer the SR to their CPC instead of offering the PC. In order for the PC to compete with the Centurion, it's likely JPM will have to increase the PC's annual fee to get more benefits (airline status, hotel status...) At least that is what I think.