Do not discount the profitability of Z class pax. In the year before I reduced my long haul flying on AC, I flew 3 Z class TPACs. Approx. total fare was $17,000. On my flights there were empty seats in the cabin. AC made more profit on me on those flights than it did from the higher status pax who was sitting in the cabin courtesy of upgrades.

I m also a pax who travels with a maximum 23kg, 1 bag, rarely visits the lounges, never uses the showers, rarely calls the priority line and has only used a concierge 1x in the past decade. I don't make requests for special meals, I don't drink much and don't leave a mess like so many of the super do0per business class pax do. I am not alone.

The AC Z class, makes the AC fare competitive with the airlines I would take otherwise. Before the creep up at EVA, the EVA C class fares were almost always lower than AC Z class and EVA's Z class would be unbeatable. Those days are almost over.

The AC fare classes are a bit of smoke and mirrors, as most business class travelers on long hauls are not traveling in a J class, but are instead in a lower fare class.. Due to the need to line up meetings and co-ordinate things, most business travelers have a good idea of their plans before the leave and if they need to modify travel plans after purchasing the ticket will pay the fees. The last minute J class fares, are somewhat exploitive taking advantage of a traveler who needs to get somewhere fast at the last minute. The people on those fares are a small number on any given flight.
I won't have status this year because I purchased most of my longhauls on other airlines last year. AC forced me to do that because of schedules and an inability to obtain a full business class routing at AC.com for a fare competitive with most other airlines. I will soon be taking my first long haul with AC in 6 months, only because my options were limited during a peak travel time. Part of the route will be with an AC competitor.

FF programs at airlines as we know knew them are dead. The airline industry killed them off for their short term profit goals. Prudent travelers will now place price and schedule ahead of FF points since the cost of maintaining status now exceeds the limited benefits that the FF programs bring for the majority of travelers. For the small minority who do benefit from status, it works, For those who previously were 25-50K status flyers, a look at your costs associated with chasing status will show that it isn't worth it anymore.