completely agree.... it basically boils down to how exactly each person defines "value" for themselves. Gregorygrady and Holt2j defines their value in terms of "personal value", and my definition is more in terms of "market value".

"Personal Value" = Would would I be willing to pay for something.
"Market Value" = "If I had to pay cash to get that, what is the lowest possible price I have to pay to get it"

Since value is a very subjective thing, I would say each is equally valid, and different people will choose different defintions of value that's meaningful to them.

I choose my definition because in the example given, though I personally may not be willing to pay more than $500 for the TV, I can redeem the coupon, and have a reasonable chance of reselling it for $2000. As an extreme example, I would never by a Rolls Royce automobile. But if was able to redeem 100 Gold Passport points for a brand new one, I would certainly do it, and I would certainly value it at a lot more than the $0 I am willing to pay for one.

That being said, I competely understand the other definition. For example, if the thing they give out as a Diamond Amenity is a bottle of wine, and you don't drink wine, it's not something you want to give away as a gift, and wine is not something you can easily resell, then clearly, that Amenity has almost no value to you, despite what the market value of the wine is.