cancel the card then cancel the stay? do they have any recourse?

now that the 2 night SUB is gone and we're back to the fake 60k bonus, curious what people think about the targeted offer that's presented when making a reservation: $350 statement credit (for Hyatt purchases, so instantly covering the reservation) and 5k bonus points after spending $1500/3 months (no limit on transaction eligibility but presumably the 350 credit would negate the spend and therefore would require spending $1850 total.

TPG claims 1.7¢/pt value so 30k points would correspond to $510 while the targeted offer is $455 assuming you spend the same amount of money. Looking at some hotels in Chicago, looks like there are definitely options for cat 4 hotels that give you much more than 1.7¢/pt, so maybe I've answered my own question.