If you can get the 100,000 points and are a Platinum member it is a great deal. I am keeping my old card, but applied for the new one. Got the bonus, which is worth ~ $750. Statement credit is worth $300. (FYI, the terms for the credit are similar to the Hilton Aspire,which, of course, is only for resorts. The Aspire pays out as you charge so if you do not make the $300, you can use the rest later.) The free night is easily worth $150. One thing to remember about free nights is that (although they may not include resort, etc. fees), they generally include taxes (in most jurisdictions, although, for example, I think India may be an exception and which may have high taxes based on imputed value), which can run fairly high. Even a room at a category 3 hotel can run over $150 by the time you add taxes in. Total value over two years is easily worth ~ $1500 ($750 + 2x$300 + $150). Great value for a card costing $900 for two years.
Still only I am getting it and not my wife (while we both have Aspire cards). I am Platinum and she is not. Gold is pretty worthless so even with a free night, she would not get breakfast, lounge, upgrade, late checkout, etc. The free night is much less valuable without that. She had the lounge with the SPG business, but that card was enhanced. Of course, if she did get it, I could use the $300 as an additional card member, but could not get Platinum benefits and use her free night.
Still the Aspire rules (as a hotel card, not as a spend card) , as it not only gives the free night (which can be used at most properties worldwide), but you get the $250 Resort credit to boot. Further a $250 airline credit. And to top it all off Diamond Status (which admittedly is not equivalent to Platinum). We will back to back our free nights later this year for a free weekend in Europe.