Makes sense, especially given the price difference, although on my common routes BA is always within £50 of easyjet (it has to be or my travel booking system would mandate the cheaper option). For £50 I much prefer BA for the lounge, fast track and not having to be in Luton airport (it sounds like they've improved but my worst arrivals queues ever, both well over an hour, were in Luton). There's also the Avios and tier points towards a pretty good upgrade rate in long haul which is a huge bonus.

Personally I find the new seats more comfortable than the old ones, the lack of leg room (I'm 6'2") is compensated by the much more comfortable seats themselves. However for a £150 saving assuming I could get to Luton easily I'd probably go with easyjet.