Having experienced a variety of reputable airlines in J and Y-class I disagree with that statement. However, I will focus on the Y-class part only.

First, the food portion size (not quality but size) in Y-class in Emirates is the best I have experienced so far. I have flown in Y-class with the so-rated 5* airlines Garuda-Indonesia (a 1.5 hours flight) and flown with other airlines such as Malaysia Airlines and Oman Air and found the food portion size good on Emirates Y-class. I was shocked that with Garuda-Indonesia, they only provide you with a main-course meal in addition to a strawberry flavor yogurt on the side only. My experience with Malaysian Airlines was not that different in Y-class for my 2.5 hours domestic flight as well. However, with Emirates you are offered the main course, salads, sweets, and a piece of chocolate with your food. ^

Second, the comfort of the seats themselves. In addition to the airlines mentioned above, I have also experienced the Y-class product onboard Kuwait and Qatar Airways. In terms of seat comfort Emirates never failed (besides their A330 bird) to provide me with a comfortable seat onboard their fleet, regardless of how long/short the flight is. I always found it comfortable to sit in a Y-class seat with Emirates. I assume you never flew with Kuwait/Qatar Airways, and Malaysian Airlines and experienced their Y-class seats.

Third, the IFE itself which you have already mentioned in your post

Finally, the refund process with Emirates is very simple compared to other airlines. I do not have to send e-mails or make phone calls to get my money back. List me any other international airlines that provides you with this convenience.

Based on the above, I fail to see how Emirates is over-rated compared to other airlines