There it is. If that's all you do with MR you're making a good argument. But anyone who wants to use them for anything else probably isn't using that equation. I haven't tried recently but I bet if I wanted to book a RT to Europe with ANA miles in business I'd have a little bit more trouble finding availability than using a MR redemption.

I can't argue with the not booking direct part though. I've spent too much time on the phone with AmEx this year with people who did not know what they were doing.