If I was getting 90% upgrades I might think that way... but as it is, even on United as 1K, on recent IAD-SFO-IAD, I was #10 and 20 respectively on the UG list (I might add on a 777 and 767). With a bigger network, the # of top tier members will increase.
On CO, from prime business destinations such as as SFO, BOS and LAX, upgrades have been few and far between for years unless you're willing to play games with undesirable times (such as the redeyes from hell from SFO/LAX).
CO is making it worse with their pay to play policies now. With an E+ product, where elites have the ability to book a seat with a real space advantage (everyone's got exit rows but that's only a few seats), then you have a situation where the elites not in F have a superior experience even though they aren't in F. If someone wants to pay $700 to upgrade into 1D, and I am then stuck in a 38" space seat, its not so bad.