Agree on the comments re AC making money on the European sector and is likely why the Cdn govt is not allowing extra slots to Emirates/Etihad as they would drain some of AC rev even in Y that would connect in Europe via Swiss/LH.
I believe Emirates J is a better product and they will match your status if you need it if you plan to fly the sector regularly. If you fly J all the time then the status does not matter other than points accumulation.