It really isn't. Consider that for the cheapest award flight on CO to
POP (the elusive 'saverpass') it's 35k miles - and those 'saverpass' tickets are rarely available and at least half of the ones that are will route you through Montreal.
2k miles on CO gets you about 5.7% of the way to one of those tickets, or it gets you 3.3% of the way towards one of the more readily available flights.
1200 JetBlue points gets you about 5% of the way to a direct flight ticket that you can book just about any day of the week - no restrictions. And when there's a fare drop (like those $300 tickets, for example) the amount of reward points required to book that ticket drops as well - those tix only cost 14,800 points R/T.
I think JetBlues old system was better, but the new system is still better than most of the other programs out there.
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