Spend $69 for a personal card (40,000 points) and $99 for a business card (60,000). Spend $10,000 on those cards (lost value of $200 you could have got with Citi Double Cash). Total costs, $368.
Receive 110,000 points (at 70 points per dollar, $1,571 of flying value). Even if you only fly once per year for two years with your companion on tickets that cost $200 per one-way, that is another $800. Minimum total value of $2,371. Where else can you invest $368 and get $2,371 in return? And, if you use the companion pass more than once a year, the return is even better.
Seems like a no-brainer to me.