I was greeted once as a SL on KA Y from HKG to KTM (Nepal) but I suspect the ISM only decided to greet me because there was probably not many to greet for this particular flight.
I agree with others that the lounge access and other little benefits for “lowly” SL like us are already a great perks. That’s enough for me to try keeping my “lowly-valued” loyalty with CX/KA.