let's not get carried away... they're not gonna be worthless. even paying $700 yq on a rt to tlv, at .7 a mile youre talking about a total of 195k*.7= 1,365 + 700= $2,065 for a rt in first class to tlv, and a nice first class at that. show me where you're gonna find that for cheaper buying any other miles??? and in business at 130k rt it comes out to $1,610 rt, also as good or better than you'll find with anyone else. if they go lower than .7 it's a steal; unless they start doubling yq, ain't nothing worthless about them.
Perhaps worthless is a little strong of a term for the actual value of them but I was referring to domestic US travel. If they add YQ, it would never make sense to use BA miles.
Who's to say, with the "enhancement" of the program, the US-TLV rate won't go up.
The point is, it could get much worse.
And on a general scale, when you look at earning miles, yes, they are a worthless program when compared to earning with others.