Indeed, but one 'saving grace' is that you get the same mileage accrual rate as discount business class (Z) fares (200% s/h, 125% l/h).*

Personally, I haven't tried the AF PV yet, but I'll be seriously considering it if/when the opportunity/necessity arises (there's a possible EDI-CDG-EZE trip in the mid-term future) ... for one thing, I think my employer and/or collaborators will allow me to book Premium Economy tix, but there's virtually no chance they'll accept anything with "Business Class" mentioned on it.

Assuming the new l/h PV is along the same lines of the COI "Alize" cabin, then it's arguably worth the extra cash, especially if someone else is paying!

-- Henry

*Edit: Actually, that may be wrong - I think I saw somewhere that it's only 100% for l/h.