No they don't. It just means Americans swoop in and steal all their awards.
I just transferred my Chase points (where I earned 130,000 points for a single sign-up bonus) to BA with a 30% bonus.
In other words, I earned 170,000 Avios — which would take a Brit several years to accumulate — in 2 months from a single credit card bonus.
Not sure I’d call redeeming an award that includes carrier surcharges that are comparable to a regular business class sale fare as “stealing”.
At best on key markets between LHR and USA, BA awards offer a 20-30% discount compared to paying 100% cash.