Is it worth paying $450 annual fees on Chase Sapphire Reserve Credit Card ?

I logged into my chase credit card account today to check and see if it is still worth retaining chase sapphire reserve credit card spending $450 towards annual fees. This is a fee that can never be waived. I tried contacting them couple of times in the past as Chase sapphire reserve is the best travel credit card that offers some interesting travel benefits that you can’t find in any other travel credit cards. However, chase was not willing to waive the fees. Upon analysis I found that I’ll end up positive balance inspite of spending this $450 one-time annual fee. Here is how it works
1. Every year you can redeem $300 travel statement credit while making use of Chase Sapphire reserve credit card. That is each year starting from January upto December
2. My annual fee renewal is due april of next year. As such I can avail $300 this year plus $300 next year towards travel statement credit
3. In simple math this translates to $600. Henceforth, I end up $150 positive towards travel statement credits redemption
4. Also I can redeem the chase ultimate reward points towards travel in the ratio 1:1.5. This will help me purchase a $900 worth of ticket for $900/1.5 = $600 while redeeming in the form of chase ultimate rewards of equivalent value
5. Chase offers ultimate rewards transfer among all of its credit card accounts. If you already have a chase credit card, transfer existing balance ultimate rewards to this card to gain extra edge while booking travel
As such it would be sensible to retain this credit card spending $450 per year