Yes and no. For someone who is looking for scraps in the domestic upgrade department, mostly yes. For someone who is paying for a premium cabin on anything more than a few hours, and needs from time to time substantial baggage, and uses some of the partner airliens, it is all about IROPS, getting a preferred seat, lounges and extra baggage allowance. My current DL status is getting me into one of the nicest lounges in the Americas when I fly LATAM from SCL, even if I'm flying to EZE in the Clase Basura. My AS status gets me a J seat assignment on BA without a fee. And my lifetime UA status gets me *G forever, which is always in the back pocket.

Without the status, even on the paid fares, those of us with the "My Poopoodoodookaka don't stink" shiny status cards are likely receiving deference during IROPS.