Compared to 7 or 8 years ago there aren't many categories of FFers that are doing better now; it's mainly degrees to which they're doing worse. Airlines have made one cut after another to service at all levels, and the two-tier awards are essentially a stealth devaluation. The future viability is threatened mainly by all the non-flying miles that are sold causing the balances to get out of whack.

People who can and do fly internationally on paid business class are still very coveted and get targeted offers, but for most other patterns you pay more and get less both in terms of miles/targeted offers and in terms of the experience on the plane.