Basically this is the same argument
- chase points are worth 1.5cpp if booked through the travel portal (Expedia)
- chase points are worth more, let’s say 2cpp if I transfer to another airline and book business class
- i would not book business class with cash, but I would with points, so the points are only worth 1.5cpp
If all of this is logically true, you might as well (hyperbolically) only book through the portal and never fly business class. I’m being sarcastic of course but clearly better experiences have more value… I’ve heard this argument a lot though.
Points are just a tool… your income might go up or you might get a job that flies you business class. Nothing is certain