interesting discussion mixed with a fair bit of hyperbole. While the $450 card seems like it might work for some, for me it's definitely not a no-brainer. In the last five years of travel I've paid less than $100 total in incidental fees to airlines (one change fee IIRC and one baggage fee on easyjet) and I can't recall spending much on resort fees since we prefer city hotels. So I would be paying $355 extra to move from Gold (which is perfectly adequate for my half-dozen stays at Hilton properties every year) to Diamond less the value of the free weekend night.
Now if you were planning a week at a resort and you didn't have any airline status for your travel to get there, I can see how it might work. But since I have Priority Pass through CSR and status with all three alliances, this card doesn't do much for me except help me earn more HH points which are valued at 0.5 cents or less. Which is not something I really want to do.
Anyway I still think the odds of real Diamonds being shut out of upgrades by those of us who would buy our status for $450 (but who don't travel that much) isn't as great as some fear it might be.