Today's Click & Save email included (for me, may be individualized/targeted) a Points offer that includes an up to 75% bonus.
At the minimum points purchase to get the 75% bonus, you're paying quite a bit less than
any of the subscription plans.
15,000 + 11,250 = 26,250
$412.50 / 26,250 = 0.0157
At the
minimum purchase to get
any bonus you're still paying less than any of the subscription plans.
5,000 + 3,250 = 8,250
$137.50 / 8,250 = 0.0167
Presumably the subscription plans are aimed at consumers who want to "layaway" or save up for a trip, putting away a smaller amount of money every month and then redeeming after a year. I think those people are going to be really upset when they finally have enough points to purchase their flight, but discover that the fare has increased and now they can't afford it. (Much less learning that they could have bought the fare for a lot less cash than they spent on points.)