I have raised this issue before as you can see.
Support for this suggestion is not universal in this forum.
Personally, I agree with much of your comments. And since W has decided not to offer Club Lounge, then it makes my decision to go for Conrad, JW, Westin, LM, or even Sheraton easier.
If I want to pay for luxury, then I would go for St Regis & LCs. W as something in between, seems to be neither here nor there for me as well.
W works for some others I guess. It is a concept that appeals to certain groups of people, and if the hotel continues to attract enough SPG followers, then people have voted with their wallets. If the numbers are not good, maybe someone will consider our comments.