Treepuppy, you've nailed it, esp. in your Post #3 ! The problem with Chase UR points is that they transfer to all partners 1:1, and 1 Hyatt point is worth WAY more than 1 Bonvoy or 1 IHG!
I transfer most of my UR points to Hyatt and use a few to top off my airline miles for an award. Also, I much prefer hotel points over FF miles because of the games that airilnes play with availability in normal non-COVID19 times, while hotels honestly want to give us free rooms!