I all depends on your perspective and what your plans are for use of the points. Some folks who travel infrequently use points that they have saved for years for a free week in Hawaii. From their perspective that is a great use of points. Others may feel that using points for a weekend stay in NYC in lieu fo $199/night is a good deal.

Then there are those like myself who have a lot of points and will pay under $300/night for room in the right locations. I personally have saved my points to use instead of $400/night at the Vail Marriott, $500+/night at the Paris Marriott, $440-480/night at London Marriott properties, or $380/night at HKG JW Marriott. Better bang for my points IMO. But, if you never plan on going there then perhaps using points for a weekend stay in NYC is a good deal.

Like I said in the beginning, it depends on your perspective.