[phil21]

Airlines do sell multi-packs with flexible rebooking. At least United and Delta did pre-covid, I haven’t had a use since then though.

With even moderate airline status rebooking/cancellations work more or less as described. I can’t recall the last time I haven’t been credited for a flight I ended up not taking, even I did a full on no-show.

Without status airlines sell refundable tickets with similar flexible rules, but I assume there is some adverse selection included in how they need to price those fares.

[listenallyall]

Yes most airlines have eliminated change fees, and rebooking isn't too difficult for business travelers. But that's not a refund, and people booking 6 to 12 months out tend to be families going on vacation or to a specific event. So if something changes, there isn't always something else to book, or at least not on that specific airline. Further, what you call "moderate" status - the lowest level - has been raised to require an enormous amount of spending on any one of the major airlines. And don't get me started with "you only need to spend 100k on their credit card..."