I went to VIE in June and September and the setup appears to have changed.
The big issue before was severe overcrowding in the Jet Lounge, which was shared with other airlines and while it had nice apron views, was woefully inadequate. You could barely find a seat.
The Air Lounge (located after security but prior to EU exit passport control) now has a separate section for EK passengers. It's fine space wise but has no windows. Definitely an upgrade, however, to the Jet Lounge. F&B offering is basic.
The upgauge to the A380 with up to 100+ people with lounge access (between F/J/Plat/Gold) necessitated a new better solution.
Now that VIE has 2x daily including one A380, a dedicated EK lounge would make sense but I don't think VIE has the space/infrastructure for one (and I'm sure other airlines would ask for their own too).