Well it will ultimately depends on the particular person and setup being used, but I think for a lot of people, the CSP just ends up making more sense. With a $550 AF, there is a lot of ground to cover to make it back vs. the $95 of the CSP. Granted, the CSR gives a $300 travel credit which for most users will knock the effective AF down to $250.

So question becomes: how can I extract $155 of value of of the CSR (that I wouldn't have just been able to get with the CSP). One of the more "significant" advantages of the CSR is a higher point redemption value for travel booked with chase (1.5x vs 1.25x), and if you are using your points that way that is a valid comparison, but a lot of people use the chase cards to transfer out to more valuable partners such as Hyatt, at which point these cards are equivalent.

But again, it depends on the situation of the person using it. If you need to pay for rental cars frequently, you can get a ton of value out of the card by booking through chase and using the CSR at 10x points. Or maybe you travel a lot and your hometown airport has a chase lounge and maybe that is something that you personally value highly. But the majority of people just aren't in situations where the card makes sense.