Hard product in overseas premium classes has improved dramatically over the past few decades, culminating in the current best-in-class of Etihad's "The Residence" suites in their A380 first class cabins...
Given the choice, I'd rather have the better seats than the better food.
HOWEVER, why not have both?
Its not like the cost is so great relative to the price of the space on the plan. And of course, other airlines do have fantastic F&B.