No, you're right on target.

You can also pair the Citi Double Cash with the Citi Thank You Preferred which can redeem points for 1.25 value for travel which gives you an effective 2.5% return instead of just 2%. Just don't transfer your points from the Double Cash to your Preferred before you're ready to use them. Transferred points will expire after 3 months.

However, many of the people in these forums would tend to transfer their points to airline programs to redeem for premium cabins, usually at an even greater return. The flexibility of UR and TYP to be able to transfer to a variety of partners is not to be underestimated.