A month ago American was offering to sell miles at the lowest price I’ve ever seen from the AAdvantage program. At 1.72 cents apiece it was even less than US Airways Dividend Miles had been selling for during their promotions for the past couple of years of that program.
Clearly with US Airways management in charge of the merged airline, their view of monetizing miles has taken hold — and there are mileage sales at least as often as there aren’t sales now. (And non-sale periods must only be to retain the illusion that there’s a higher price and make it seem like lower prices are limited-time offers.)