We have the Chase Sapphire Reserve and love it - we actually flew around the world in first class using points only, over a $30000 value EACH for which we paid about $750 in taxes. Pay attention to partnerships. If you do research and transfer to various airlines you can get good value and it's totally worth it. (We got Cathay Pacific by transferring to British Airways, direct transfer to Suites Class on Singapore Airlines, China Airlines by transferring old Delta miles though we could have used Chase through KLM or Air France, etc.)
As for Priority Pass, we use it all the time. Yes, it's definitely hit or miss depending on the airport. Far from the international airline lounges' quality, and yes one at JFK was actually WORSE than sitting out in the terminal, but usually there are decent options. We like it just for a bit more quiet, and the wifi, and slightly more comfortable sitting areas, and maybe coffee or a snack. If you're looking for luxury only a few will check that box. In places like St. Maarten where it's a madhouse? It's nice to just have a bit more quiet, and worth it.
Think of it this way: if you travel enough to get the $300 airline credit then your out-of-pocket fee comes down to $150. Totally worth it for the points (pay attention to 3x travel and 3x restaurants etc., adds up fast!), primary rental car insurance, and travel insurance, and you get some lounge access to boot!