Overall I would agree with you however to expand
I feel Chase has done a terrible job explaining their value proposition.
I'm still learning and I clearly missed the boat early on.Its taken me months to understand what they are doing since they launched late last year
As their partner Hyatt sinks low Chase is essentially competing and yet still partnering with Hyatt
Chase Points boost when redeeming may be cheaper than booking through Hyatt
The problem we all faced is that we were used to transferring points to Hyatt or earning them on their credit card that isn't and at times wont be the best way to go in the near future consistently
Especially as Hyatt's new seasonal redemption takes hold a faux version of dynamic pricing

Most of us are deeply disappointed by Hyatt's actions.But all these years they had us where they wanted us with many booking directly.
Their counting on Hyatt addiction to stick
Speaking only for myself I have broken the chains and have become an equal opportunity program to program user and 3rd party to 3 rd party booking platforms
Even using Ultimate Reward points a non edit hotel I saved hundreds of dollars booking a Mr & Mrs Smith hotel (Azur) New Zealand through the Chase portal and not Hyatt.com
The hotel offers free breakfast to all guests and doesn't offer upgrades or late check outs.

In closing as Hyatt points go the way of the Peso in some regards I now pay cash skip or utilize the program depending, negotiate with hotels directly and use my points not transferring to hotel points
Ex transferred 100k to United and booked Polaris to Australia.That might have gone to Hyatt otherwise.
Having options of multiple transfer partners keep you from being financially exploited by greedy programs
Hyatt has made a choice and so must all of do whats in our best interest and cherry pick.