I actually think the status match has a lot of value. Typically when an airline status matches its a one time deal. If, and its a big if, I can status match my NWA Plat to AA every year with the Merrill+ card, I find it to be a huge benefit. I always wanted to check out the CX lounge in HKG!
I too am +3 and am a little frustrated with the Ritz certs. I had a trip to London all planned out and low and behold Ritz London is not participating. Milan? No dice. Half Moon Bay for a weekend getaway? No.
Oh well. Still a great free CC though.