Points are worth the same as on the major three airlines. Devaluating that will lead to a defection of travelers who have a choice. Giving out A List does not cost Southwest anything, and I am pretty sure Southwest has data that if people have A List they are more likely to fly Southwest (as per the many promotions where they give A List after x number of flights). So, I think it is just shrewd analysis, and they are giving a useful perk to more people to increase market share. With more A Listers maybe A List will spill over into the low B's at times, but that is not the end of the world for most.