upgrades

my curiosity has been peaked lately, as i receive more and more offers from my various (too many) credit cards to upgrade my membership.
of course these upgrades come with so very many benefits, like airline cancellation insurance and improved fraud protection and emergency cash wiring and extra points and more cash back and restaurant discounts and the list goes on and on and its only $79 a year.
but is it really worth it? the crap they give you for points is just that. crap. and the restaurants they give discounts to, are they restaurants i would ever eat at? and doesn't fraud protection come without the upgrade? and if cancellations happen can't you generally get reimbursed, or transfer the ticket?
i really want to know
when i get home late from work and i blearily tear open the mail, hoping there might be something interesting to read, i want so badly to believe that i am being offered something good, something worth responding to.
but i never respond
should i?

i am skeptical of upgrades.