Do this now? Summer Hyatt promo is way too complicated

While I was updating my hotel promotions page this afternoon with the Hyatt summer promotion, I was trying to decide if I have anything to say about it. And I decided: not really.

Triple miles on 2nd through 15th eligible stays when you choose to earn miles

Between May 1 and August 31, 2014, Hyatt is offering triple miles with 8 of their partner airlines on the 2nd-15th eligible stays made during the promotional period (there is no bonus for the first eligible stay). Each partner airline has its own registration link (you can only register with one partner airline):

Who came up with this?

For the first, non-bonused miles-earning stay, you would have to consider 500 miles worth more than the Gold Passport Points you would earn for that stay. Then, having triggered the bonus, you can receive 1,500 airline miles per stay.

For the sake of simplicity, suppose you consider each Gold Passport point to be worth the same as one airline mile in a participating mileage program. Then this promotion is profitable only if the room rate (excluding taxes) on your first stay is less than $100, $87, or $77, depending on your elite status, and on subsequent stays is less than $300, $261, or $230.

On some blogs this is being parsed as "this is a nice promotion for someone that frequently makes short and cheap stays," and "this promo especially good for inexpensive and short Hyatt stays."

But I actually don't think that does justice to how bad this promotion is: if you have frequent, sub-$300 stays between May 1 and August 31, 2014, why on earth are you staying at Hyatts?