Here is my update.

I purchased 100,000 points before May 31st and received the 80,000 bonus points with that promotion.
After a few DM's back and forth with chase about the $200.00 I was due back on my point purchase and getting nowhere I just decided to online dispute the charge for a partial amount $200.00 of the $1000.00 I paid for the 180,000 points.

I received an nearly automatic credit/refund of $200.00 to my card and a letter saying that the dispute is with points.com for review, pretty standard.

I log into my IHG account tonight and see that 180,000 has been removed from my account. Wow!
I assume that the rest of the amount for the points purchase ($800.00) will automatically get credited back to my card

What a total shitshow.
Chase has really screwed this up and I know many are pissed.

I know I will have to call or dispute again to get the remainder ($800.00) back, oh joy.