Switching from Airline to credit card loyalty program may not be the best alternative since credit card company can also devalue their points. Transferring your point to a loyalty specific program (like a coalition program) may be the best option as these programs are extremely unlikely to devalue as loyalty is their core business.

As long as Airlines do not create a separate P&L for their loyalty program, it will be difficult for them to understand all the financial benefits of such an activity...or maybe they see it and are anxious their loyalty program would have an higher valuation than the Airline itself.....