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The issue is that the quality of CX product/service has fallen so much whilst they have kept/raised their price for premium cabin. .[/QUOTE]
I am not sure I agree that the overall product and service have fallen so much. It is more the inconsistency which puzzles me. The new lounges are world beaters, and the new A350 seats (PEY and J ... I haven't tried EY) are also really good. Yet food is bad across the board, and I just hope the new dine on demand service gets rolled out quickly. Regional J also poor, even if it is only for short haul. While there is perhaps more inconsistency in the crew, the onboard service is still on a par with Middle east and SQ, and way better than US or Euro carriers.
With high load factors yet declining yield, they might actually think they need to increase prices!