Well, yeah, perhaps I am a bit disillusioned by corporate speak, but it is a “market differentiator” until it becomes a “competitive disadvantage”.

Do I believe that they have concrete plans to change that in the next three years? Nope.

But would it shock me if they made changes at some point to get closer to a spend-based program? Well, they already started, no? Spend on non-airline partners now earns EQMs (I consider that an (a)advantage). Basic Economy travel earns less than 100%. Earnings on partner airlines are no longer nearly as generous as they were before (and fare classes to some degree align with spend in that cheap fare classes earn less). Seems to me spend is already king.