Benefits are nice, but I wouldn't choose a hotel only based on program benefits.
The Ritz has always had good service, and a unique viewpoint of Vic Harbour. They've always given at least a Grand Vic Harbour room for Titanium.
The negatives are the location (which I don't think is a big deal if you're a local and doing a staycation) and the lack of breakfast. If you have a great rate, I would just consider paying for the breakfast.