For all the flaws in the study, it does bring up a good point about avaiability.
Even if the traditional FF programs can get your better values per point, for people who are on a schedule (read: people who actually have a day job), scheduling is everything. If I can't use my FF miles for the flight I need on the dates I need, it's almost worthless to me.
I can't fly at the last minute, and I can't take my kids out of school just because there is award availability that day.
I'd rather pay a bit more, and get the right schdule.
Revenue based programs provide that flexibility, while traditional awards generally do not.
Of course, once you're into revenue-award land, you can justify just using cash back cards, since you can get 2% and better liquidity vs. 1.7% (southwest for example at 1.7cpp) and worse liquidity.