I don't disagree with you! I plan to keep my CSR to transfer to partners and the 1.5 cpp travel portal. But many people aren't rational and see a $450 fee and may freak. Or they figure it's not worth the cost. Even on reddit thats focused on credit cards, there are many people who got the card and are like "I don't really travel, how do I cash out the $300 credit"

I have a healthy 6 figure UR balance, so it's worth it to me to keep the partner transfer and 1.5 redemptions available. Also travel and dining is probably most of my organic spending anyway, so it's a good fit for my spend habits. Also I can book all of my work travel on my personal card so that's just free points. I'm also one of the people that keeps the Amex Plat next to the CSR, because while at first blush they seem like substitutes, IMO they aren't.