This card loses a lot of people's interest because they directly look at the Annual Fee and stop doing their homework to see if the card is a good fit for them. First, If you travel 5+ time a year this is a card that you should really consider looking into it. They recently just updated their VIP lounge to Priority Pass, exactly the same as what Sapphire Reserve offers, which is over 900 locations. If you haven't experienced a VIP lounge at the airport with free drinks, snacks/food and a relaxing atmosphere, then its easy to miss the value this card offers. (I've literally saved at least ~$200 this year on just the drinks alone from these lounges). These airport lounges are more than I would ever pay for a single-time use without a membership, but the cost to do that is ~$40/hour. Just highlights the monetary value you are getting with the VIP Airport lounge access. As far as booking travel, getting 2X miles on any airline with no blackout dates or seat restrictions can really go a long way. Remember, Black Card also give your a $100 airline credit automatically, providing more value. Plus free TSA-Precheck and global entry membership ($100value)
Now as far as cash back. This is the best cash back card that I have seen for the type of spending that I do. So many cards trick you with their modifiers (and sure, maybe those modifiers make sense to you) but so much of my credit card spending is outside the areas of travel, gas and restaurants. Especially for someone with a lot of business expense, this is where this card really makes sense. What I call "every day spend" is almost always 1X on every credit card I've look into. I recently did a lot of remodeling, and everyone knows home improvement is costly. Getting that extra .5X on contractor cost and hardware supplies was realy nice.
I've figured in order for this card to be worth its value (after all the benefits I mentioned) I need to earn at least $100 additional in cash back in those everyday categories. This means, with that math, a person that is spending less than $1,667 on this card would really need to benefit from the double miles and VIP lounge to stretch and hit that $495 AF cost. Again, it's the homework you have to do in deciding what card is right for you and this one saves me a lot of money in categories that other credit cards couldn't.