As with most things...it depends.

The best value use of Avios is on short-haul flights that are typically very expensive. It used to be a YYZ - NYC flight, for example, would cost you 4,500 Avios one-way (vs. 7,500 Aeroplan) vs. a ticket in the $200 range (or more). Today, the point cost is 7,500 vs. a ticket will easily be less than $200. Plus, AA award space tends to be pretty bad.

I've found good use for my Avios on some recent bookings in Asia. ex-HKG on CX or Dragonair short-haul nonstop shorthaul flights. For example, I booked 4 tix HKG to Danang Vietnam. To buy then was $600 or so, which is ludicrous for a 1.5 hour flight.

So unless you have a specific use in mind that involves OneWorld carriers on shorthaul flights (Europe perhaps) then Avios is of pretty limited value.

Keep in mind too that you can acquire Avios very easily with Amex cards for next to no cost (or no cost).

So this card has limited value to most people, I think, especially considering the $9,000 spend requirement.

Perhaps the best value of this card is the 10% discount you get on British Airways. There have been recurring cheap fares on BA in business class to European destinations ex-Canada. A week ago, YYZ-Florence or Venice or Paris in business class for $1800-$1900 was available. Using discount you're at $1600-ish. Or in economy if you're flying your family or group you can easily recoup the $165 annual fee. But again, if you don't care to fly BA then this has no value.