Perhaps this is one reason that we now see no-annual-fee AA and DL cards that earn 1 mile per dollar, and free (or low fee) cards that earn more than one transferrable point per dollar? Think of award tickets in terms of the amount of spending required for a ticket, rather than the number of miles.
And think of award tickets in terms of the amount of spending required for a ticket, rather than the number of miles gotten from flying or spending. This is the exact reason why I wouldn't use an AA or UA or DL co-branded card for most of my spending and why I increasingly have dismissed the airline loyalty programs as a factor in deciding which, if any, of the US3 airlines to use for domestic or international travel. The US3 airline industry cartel kingpins have brought this upon themselves. If Chase, Citi and Amex move too much in the direction of repeating what the US3 airline industry cartel kingpins have done to the FFPs, cash-back will become the undisputed champion for me.