It's not the e-upgrades it's the sheer numbers. There just aren't enough credits to be spending them on short flights. (See, I get to work in a dig bragging about how my flights are longer than your flights -- wait for the Asia people to come in and tell me my flights are nothing, their flights are worth upgrading -- and then the Australia people can come in and tell them they're amateurs

Look at it from AC's perspective, all those missing upgrades are either people who didn't buy up to M fares or people who paid for J. I think I know which there were more of.

I wonder if we'll start seeing op-ups come back as there are empty J seats and over-sold Y cabins. Then they'll start complaining about elites hoarding upgrade credits or something.