Agreed, but I think the cards most discussed here are targetted at High Cash Flow individuals, rather than High Net Worth or "people who adore freebies". High Cash Flow can mean High Income or it can be expense account money. Features like "free companion tickets" were created to take advantage of expense account travel rules, while other features seem designed to mimic the services offered by traditional private banks but with the perqs codified rather than left to the discretion of your banker.