I mean, that's what dynamic pricing is. There will soon be as many price points for award travel as there are for paid travel.

Airline miles are a highly inflationary currency at the moment -- they're handed out like candy and chasing a limited supply of goods. This will continue until / unless it begins to have a major impact on the airlines' bottom line. If people keep signing up for frequent-flyer-based credit cards, this trend will not stop. If people change their behavior, it will.