Based on a quick read, it looks like:
Most importantly, NO SELECT SPEND MERCHANTS!
1 point for all spend

1- No Gold Hilton for additional members.
2-Your Secy or spouse can "discreetly" manage your account for you , taking "almost" all the actions that you could.
3-additional authorized users Free
Authorized users plus $100 annual
4- This card may very well have FHR access and the worrthless 2 for 1 international J tixs
cover letter says "also enjoy benefits brought to you by AX starting with access to a premium airline program and exceptional hotel programs.