YMMV
My perspectives:
I used to do lot of segments where upgrade vouchers where fine. Now that I am pissed off by AY deteriorationand not flying much them anymore, and the upgrades have become difficult to get through, vouchers are less value anymore.
Same with gold cards, it has become a new silver, everymans card with value in getting free bag, otherwise seat selection gone away for exit rows, meager lounges etc
Eztra guests in lounge is nice but very seldom of use.
TUMI bag was nice to get but it is just another bag after all, and not that much of a pusimagnet.
Then, also the Lumo service line have got classic syndrome and become Light in the service too…

again, YMMV