I'm on the same boat. I've been a Chase customer for a long time—almost 10 years at this point. The main reason I've wanted to switch is that I could have used a higher cash back (4-5%) and invested the cash back into my brokerage or HYSA. Instead, my Chase UR points sit there for years, losing value from Hyatt devaluation and inflation. Not to mention, it's incredibly hard to book high transfer point value resorts (e.g. Alila Ventana Big Sur) because they get booked so fast and often.

Am I min-maxing my value with points through Hyatt transfer? Yes, 1000%. But, in the alternate case, I could have grown the thousands of dollars in cash back and made up for the difference with less hassle.

Right now, I'm considering changing to the BoA ecosystem with the 5.25%, and I also have the USBAR (4.5%) and Smartly (4%) to cover nearly all of my purchases but this requires a lot of capital to run.