Here's a likely dumb question. I often get offers to join IHG Ambassador after IHG stays. Putting aside how much you truly do or don't value Ambassador in general, it seems to me if you know you have a planned Intercontinental/Kimpton stay coming up, that the program is a no-brainer?

My offer (which I assume is standard) is to join Ambassador for $200 or 40,000 IHG points. In joining they offer a complimentary weekend night (which I would be spending $200 or 40,000 points on anyhow).

So when you add in the guaranteed late check out, $20 bar credit per stay, and complimentary Kimpton/Intercontinental weekend night (i.e. what I was going to use the $200/40,000 on anyhow), where's the downside? It also comes with 10,000 points back.

So what am I missing? Where's the "downside," at least in terms of the initial offer to join?