I think Kir Baby doesn't like a couple of things:

• Chase's self-serving 5/24 rule stymies issuance of UA-branded cards to otherwise perfectly qualified applicants. He wants his cards in lots of wallets and couldn't care less how many other cards we've applied for in the last two years.
• As others have mentioned, the ability to convert UR points into UA miles disincentives use of UA-branded cards. For example: I book all UA travel on my CSR card rather than my Explorer card because I'd rather get 3 URs than 2 MPs. I'm elite, so I don't need to worry about free bags.

Hopefully, Kir Baby's gambit will release UA-branded cards from the yoke of 5/24. Or, even better, if a new bank begins issuing UA-branded cards we can all have a field day applying willy-nilly.