But how many people are really bothered about all these silly points, reward schemes etc. They've never interested me and I doubt that many other normal travellers are particularly concerned. It's just the usual add-on 'tat' that companies think will attract a few more customers (it does, but only a few).
Most of these schemes don't interest me and I find to be more hassle than they're worth. But 4 free first class tickets on the EC network and lounge access for a year (with another year coming up) - something you can't buy access to - appealed to me - if only so I know I'm going to have a seat at Kings X. I doubt the cost to EC was very high - redemtions for non-EC goods and servives seemed to be at a similar rate to Nectar-type schemes and they could choose which services to offer Reward tickets on.
I can see it being far less appealing to those who travel with EC rarely and/or live far from the EC line.