Actually, I was considering getting the CC with 120k SUB after $5k spend. At face value, the SUB is incredible compared to the ~50k from my last BW card. However, I decided against it after learning about the massive devaluations.

I put the previous 50k SUB to good use with 6 x 10k/night (when they ran that generous promo, and one of the nights they never took the points). Ironically, 120k would likely give me less now (unless they run the promo again).