Rollover MQM balances only got that high because Delta not only allowed it but encouraged it. When people couldn't fly during COVID, Delta assured its rewards members that if they just kept spending big $$$ on their Delta Amex Cards, that Delta would make good on that commitment in the future. Heck at that point, I wasn't even sure there would be a Delta airlines as we know it going forward. But out of a clearly misplaced sense of loyalty (Atlanta born and Delta flyer for 50+ years) I kept spending. Delta used the associated revenues to get a bond deal and keep the lights on. Now that they are flush again, they don't want to honor those rollover commitments, so they have decided to devalue them to nearly zero with a ridiculous 20:1 exchange rate. Yes Delta is "simplifying" its rewards program, by simply reneging on the deal they sold to their most loyal FF members during COVID. Nothing to see here move along!