Not at all. I suppose I was responding primarily to the emphasis on what Chase had accomplished with Sapphire cards, rather than their entire card business. As I previously conceded, it's quite possible acquisitions may still be outpacing defections due to sign up bonuses and the constant promotion of CSP as the "perfect starter" points card. I know many who downgraded their Reserve cards when the fees increased (and see the introduction of the Chase lounges as an acknowledgement that the CSR needed more benefits to sustain/grow the portfolio).

Agree. Venture X seems to have some crossover appeal vs both CSR and CSP, as the net cost of the card is pretty much zero. I have replaced CSP with Bilt (zero annual fee, 3x dining, UA, Hyatt and AA transfers) and use Venture X for non-bonused spend and will likely drop to a no-fee Chase card to keep the credit line at renewal.