Not during a sale it isn't. If I can get the same seats for half the price, get $0.006 cpp which is effectively $0.012 during the sale, and get points and SC, what's not to like? I'm acquiring the points at $0.008 at most, much less with CC churning bonus points, I'm still ahead. How much value do you think the increased premium awards are going to get in cpp terms? $0.03 is considered pretty good today, so what will be good in a week? $0.02?
Edit: Not to mention no surcharges on P+P. So if it's $0.03 with surcharges per point, what's it with those priced in? It's not as far a gap as a lot of people claim.