Miles are still an amazing means to get premium cabin travel without spending a lot of money.
Redeemable miles are no longer a reason to choose to fly one airline over another. And if you’re going to earn elite status from your flying anyway, that’s great, and you should try to put yourself over the top of the next-higher tier you’d make naturally anyway.
But the airlines are diving head first into destroying their success using frequent flyer programs to turn a commodity product (a seat that gets you from A to B) into a differentiated one. By offering revenue-based programs for earning and potentially burning, they offer mere discounts to customers who had been the least price sensitive. By limiting benefits they give those customers who would spend more and never consider another airline little reason to do so.