Maybe meant it was the equivalent earning from 168 SYD-MEL flights (with the minimum 1000 points earned).
And the "value" was probably what was supposedly spent to earn the points, not what they could be redeemed for.
Slightly OT, but an interesting twist. Lots of experience here at maximising points (and even more particularly SC) for spend - i.e. getting the most points for a certain cost. I wonder what the opposite is?
Any suggestions on how much you could spend and only earn 169,000 points? I suppose you would need to put some limitations in to disqualify anything that includes zero point earning (such as ineligible fare classes). Short hops in high cost "discount" economy classes (K, B etc) on the 0.25 earning partners in Europe without a minimum points guarantee would probably enable the costs to be rather large.
I can find a one way BA flight LHR-MAN online for £154 which is still "restricted", so I assume a 0.25 points per mile. At 151 miles, and at an exchange rate from xe.com at the moment of 0.55319, I make this $278 for 38 points The minimum guarantee would kick in, and give 125 points. So, 169,000 points would be 1,352 flights, at a total cost of over $375,000.
Any suggestions for a higher cost option? Maybe a code share to void the minimum points guarantee.
Hmm, found a Malev BUD-ZAG for £282 (using UK pricing), but as it is "flexible", I suspect full 1 point per mile, 192 miles, still $509 for 192 points gives 169,000 points being 880 flights, or over $440,000, so more expensive. Maybe slightly cheaper for discount economy and 0.3 points per mile could see those points costing $1m to obtain...