In their current form, the benefits offered to each tier are not worth the outlay required to achieve / maintain them. I would want to see announcements about improved benefits to justify the cost of reaching each tier.
Not sure if that's already been mentioned but this being a fast moving thread, it's hard to keep up!
I also feel that status has become something people seek out to workaround the failings in BA's customer services. Perhaps they should have looked to improve that before telling me that I need to spend 50k a year for my complaint to be read in a timely manner.