Marriott's CEO has made it clear: they exist to serve property owners, not guests. The new business model is to provide a low-cost (to the owner) commodity - bed, shower, toilet, wifi - not hospitality or service.
Therefore, the elite status tiers are mainly a transactional relationship - effective a straight rebate program. I'm LT Titanium with 1200+ nights but I know the days of SPG, or even 15-years-ago Marriott, are dead forever. They don't care about me and, to be honest, I don't care about them. If they offer the best value on my business stays, great. If Hilton or Hyatt does, so be it. The industry no longer seeks actual loyalty or a bidirectional relationship beyond short-term profit, so why lose sleep expecting it.
Look at all of the hotels that used the cover of covid in 2020 to permanently remove amenities or services. Many hotels permanently got out of the lounge business. Many hotels drastically cut their paid food / beverage offerings - I've even had hotels that formerly had 24/7 room service suggest I use UberEats. Full-service business hotels in large cities!
Basically "we don't care about you, we're just providing you a place to sleep."
The programs still have utility for me - there are parts of the world where I'm willing to spend the points on a known brand with a baseline offering that includes 24/7 electricity, onsite food, and a working shower. But for most of my trips where I want a really nice place to stay, I'm booking villas or apartments instead of hotels. The value prop for hotels has been killed in many places....without the service, then I'd rather spend less money on a nice living room, full kitchen, multiple bedrooms, etc.