Referrals still show 125K miles sign-up bonus offer but the new public offer is 75K miles + 2K PQP. Am I silly to think 50K miles are worth more than 2K PQP?

The extra 2K PQP will be just enough to make me Silver again next year (whereas without 2K PQP, I'll be downgraded to a regular member unless I spend $30K on my Club card which I won't). Weighing 50K extra miles for low-tier status.