I booked 3 nights at Hilton Hawaiian Village® Beach Resort & Spa for next month and noticed that the lowest rate was $199.00 for - 1 KING VILLAGE GARDEN VIEW ROOM. (Cost $597.00)

Later on I decided to check the rate using my Hilton points. I noticed that the same room for 3 days would cost me 120,000 HH Points. If I would pay for the room using points earned from charges made with my Amex Hilton towards (everyday purchases), it would then take $40,000 in purchases to pay for that 3 day stay.

Is there really any additional benefit to using the card after spending $20,000 and receiving Gold Status?

It looks to me that …1) Hilton point is worth 1 Cent each.
2) Amex Hilton Rewards Card pays 1.5% on (everyday purchases) when you redeem them for a stay at Hilton. Less if you redeem points for merchandise.
If I charged the same $40,000 to my AMEX Blue Cash card I would earn (1.5%) or $600 cash. The cash I can spend anywhere. The Hilton points I must spend with Hilton to receive the same pay back?

I’m new at this and still do not totally understand the rewards travel game? I must admit that it is rather entertaining chasing points , but feel ripped off at the end of the day if I do not gain something for investing my time to play. Can someone help me out, because I really do not understand why I should continue to use my new Amex Hilton Rewards Card after I have reached Gold Status? Are there other benefits that I'm not seeing?