All you have to do is stand between GF and UA 2-4-2 business class on a 777 and there is a huge difference. When you look back from GF and see four men in the 4 across - it looks like 4 men in a king sized bed. UA GF is a decent seat - although not as good as some other international carriers.
The BF product, from CO, is good, but the density only gives you a small cubby hole for your feet. Again - not similar to GF.
What Rainey should be saying is that UA does not have the demand to justify a separate First product, but that UA is planning to introduce a new business class with all seats having aisle access (similar to AA's new J products).