Originally Posted by RayG

There is a lower bound for how far this can go (unless your ticket prices fall accordingly).

Would you rather spend 20k GBP to get BA Gold (based on their current products, particularly F) or spend that + xx towards maintaining HON?

If you are not based in one of the key hubs, you might be more fickle in your loyalty as time passes. Perhaps a matter of time until AF expands its F footprint.

And if you are in a hub, it depends on your tolerance. LH has all but lost on the FRA SIN sector, as an example, due to them using a horrible 744.