No, it has been downgraded because CP was giving away the store in what proved to be a vain attempt to attract and retain business travellers.

CP set an artificial standard for domestic premium class travel, because is was simply unsustainable for the revenue which it generated. As for international service, AC's J class (from 1995) was a market leader to which CP was consistently playing catch-up.

The airlines with the consistently highest service standards are also the airlines which have lower labour costs bases (e.g. SQ, CX and KE) or charge higher fares for premium class services (e.g. BA, LH, SR)

AC cannot get away with charging what domestic J class should really cost at the CP service standard in view of the travelling public public's concern over fares, particularly where the revenue base is heavily diluted by the wide availability to upgrading to SE/EP and E/G members.