If Chase intends to stay in the premium card segment they will need to offer more than 50,000 points for new accounts, and they will need to add features. I expect Chase to use targeted higher offers, and also to make public offers with higher spending requirements, as they have done with the British Airways card.

Chase first offered 100,000 points for a British Airways card in 2009. The original offer ended, they offered a lower bonus for awhile, and then another 100,000 offer appeared with a higher spending requirement. The offer has run intermittently since, but typically with ~$20,000 spend requirement to earn the full 100k.