Yes, But no one wants to have to go to court or arbitration to get a refund on a service that the service provider cancelled.

If AA cancels my flight, I want my money back without having to ask for it. I don't want to have to submit an application to receive AA credits that expire in 6 months, and then have to initiate legal action to get my actual cash back. Or having them say that they rebooked me on a flight three days later so they are off the hook.

The current rules make it so that the customer has the power. I can still give AA the option of rebooking me or refunding me, but it is MY choice.

I agree with you on everything except ever flying American Airlines. I think most people would agree with you.