Am I missing something or is RBC Avion Visa Infinite Privilege massively overpriced?

I got pre approved for this card and it’s $400 a year. To me it’s a very standard travel card. It comes with 6 airport lounge visits a year, expedited security, but the thing that gets me is it still hits you with 2.5 exchange, and I travel to the US almost monthly.

I looked into Scotia’s Passport Visa and it’s 1/3 of the cost with almost all of the same benefits plus 2.5% ftx waived. Same with very comparable cards to Passport like HSBC World Elite MC.

I’d almost rather opt for a card like AMEX Platinum with a fee like that…. You get so much more bang for your buck, albeit a lower acceptance rate compared to Visa. In Toronto idk how much this would matter

Am I missing something?