additional point to the subjective "value" from our perspective (or if you like perceived value) - it is so subjective and contextual to each member IMHO. Back some years ago when AJ grounded the airline and there was talk of QF going bust, QFF haing no value etc in some segments of the media, a friend of mine proudly informed me she redeemed all of her 190k odd points for woolies vouchers.
I was, as any member here would no doubt understand and possibly agree, appalled at this - so to ME her redemption was poor.. so her use of points had a poor perceived value. To HER though, she got what she wanted - some woolies vouchers and piece of mind so her perceived value was high. Of course I told her I wasn't concerned still earning and all the rest. We haven't discussed it sine, but I imagine she may have some regrets about her decision in hindsight.
but to HER at that time... total value.
Me? If I really thought the writing was on the wall I'd prob use 190k points of say EK F to europe or something like that. I am sure many others reading would use 190k points on different things that they consider of value.. for example I imagine
JohnK would use those points on redemptions in Y to BKK.
All different "value" propoisitions but also very subjective
Of course this is a major tangent to the thread, so.. sorry about that