Anybody out there old enough to remember Connosseur Service, which is what AC called its initial forray into an "in between" First and Economy product? (They later dropped the service and sold the name to United for their Business Class product.)
And then there was an attempt to segregate full Y-fare customers (and Elites, in the pre-SuperElite days) in the front Economy cabin on widebodies.
From experiencing BA's First product out of Toronto and Vancouver to London -- with full cabins on all occasions -- AC might feel it's losing some very high-yield customers on that route, at least. Also, to Frankfurt, Hong Kong and Osaka. (And to remain consistent with other STAR partners which do have an F-Class cabin.)
Just don't see the need for this product domestically, and think the UA approach to more pitch in the first few rows of Economy would suffice for those not able to get upgrades to Executive Class.