If they are going to make a separate room for more frequent flyers, why not have a room for Elites only (+ 1 guest, allowed only if there is space). That way, you are sort of making a Flagship or First Class type lounge with hopefully a much quieter space than the zoo that AKL dom usually is. It would also be used (and hence not a waste) whereas it sounds like EP1 is even more exclusive than the Order of New Zealand.