The comparison between the cost difference of Y and J/F is always going to be moot point, but I think it is a interesting argument.
50% of my flying is done within Europe so for the hours of flying I don't see the value in paying for J class Europe. Particular when you get to a status when you can use the lounge. However I have done quite a few red eye flights in the states the past two years and have flown F class every time and was glad for it, just the wider seat allowed a better rest.
In my early days of the travelling my expenses only allowed me Y class but within the past 6 years my expense account has allowed me to travel Intercontinental in J class. when you have many years of sitting in back cooped up, sitting with a lot more space is a nice change. I do think that J and F class has to be earned for it to have any meaning.
For me I value it because I'm 6'3 and broad shouldered so for me Y class long haul has always been a problem more width ways than leg room tbh. It's ok when you get a small asian lady but having a large anglo saxon next to you like me for 10 hours+ can be hell on earth.
However I wouldn't pay anything for the privilege. There is limits, my next trip is to Hong Kong September. I've ended up going with Finnair from LHR to HKG via HEL. Each way it cost just over £1250 (GBP) Now I accept that 2.5k is not cheap and you can get you a lot of a holiday for that but for the distance you cover is it actually alot? It's £2.40 per mile, how much does your car cost per mile to run? You can pay more per mile for a train ticket sometimes.
However I also looked at Cathay and they wanted £4400 for a return trip. I couldn't justify that cost. I would never pay the full price for a F class ticket intercontinental ticket, unless I won't the lottery. I've only ever used miles for F class intercontinental. If my expenses allowed me to fly F would I? probably!

but only because I could as opposed that I wanted too.
I always wondered why an airline hasn't decided to offer a no frills business product. Cut out all lounges, booze and baggage allowances etc and just offer a J class seat at around the premium economy level price wise, you make the food a pay extra as well. A lot of my friends and acquaintances (myself included) would lap it up. However they price J class flights to keep out the undesirables. That's not to say that all people who travel in J and F are discreet travellers but there is a pattern.... Let's say you get less of them, perhaps less so on the holiday destinations but definitely to the business destinations, the crowd are usually regulars and know the score, is that worth paying extra... for me yes.
When someones as me how much a flight cost, often the very cheapskates say "that much you could buy......" or something along those lines. I always say you take too much of a materialistc view on money. People pay millions for a stone that sparkles a bit and even more for a bit of canvas which has some paint lashed on by a drunk man who was that doped up when he painted it. He also cant remember its meaning if it ever had any. So is spending money on more room on a plane really that strange!?
In regards to your question on which It's depends where you are, from reading assuming your North American based. Ive only one F class trans-Atlantic. I hear Air France new first class is very good. I would recommend AA new J class, which is now better than BA's product. The Middle East carriers do the most over the top F class services. I also like Lufthansa product as well.