You're not actually getting $4,560 in value. The membership is hobbled - you don't get meeting room credits, get guests - which is whatever. However, you also don't even get a building access card. So if your Wework is three floors (like mine is), then you're stuck to one. You can't go to a location at 8am or 630pm, or anytime on weekends. I'm not sure if the other floors have more comfortable workspaces, but the main floor at my location only has chairs with hard wooden backs, and shared long tables. Honestly, not better than the study halls in college (although my school had good architecture and many new buildings). No way in hell would I pay $400 or even $100 for such a limited membership. A dedicated desk or private office, maybe. But I'm honestly shocked anyone spends that much on a hotdesk when there are so many other options in any major city. There probably isn't, which is why WeWork is bleeding a crap ton of money.

Edit: Oh, you're also not guaranteed a space if all the 'amex' spots are booked, as opposed to a hotdesk membership which guarantees space at your home location.