For me, the following advantages are important enough to maintain status-

1) Use of lounges

2) Bonus points accrue at a rate that make it very unlikely that I will sit in the back of the plane flying across an ocean

3) No hassle about baggage because of F baggage allowance no matter what class is flown

4) Guarenreed seat on any flight if booked 48 / 72 hours in advance

5) Possibility of free upgrades