Looks like Mr. Colin here is a prude premium-only traveler... and he is indirectly bragging about his ability to buy premium class, etc. here on FT by complaining about y-lices in the F-lounges.
Nonetheless, back to the topic... I think allowing Emeralds into F lounge is one of the novel perks to be had with OW. If this 'perk' is gone, there really is not much better reason to fly OW as in most parts of the world (with an exception to Australia) OW does not offer good connecting service (especially in Canada!)
Hence, having been LAN Comodoro (2 years) and AA EXP (1 year), I am moving back to *A with CO/UA. So, Colin, you will see one less y-lice in your F lounge. Ciao!