I would not so cavalierly dismiss PWM as a poor choice. On a longer trip where you can generate significant MQM's on a PWM ticket (vs. none on an award ticket), it can be worth considering if you need the MQM's to make a particular status level. I think most here would value 12K MQM's as worth at least $600 as that's about what you would pay for them with an MR. There's also the additional time and expense of MR'ing above the fare cost itself.
It's still a poor value. If you need the MQMs, pay cash for the ticket. Then use the miles for something else with a much higher value - international premium cabin travel, one-ways where the mileage price is cheap relative to the cash price, that sort of thing. People who are flush with miles may spend them in ways that sacrifice value, but that doesn't mean it's a good idea.