There's a difference between being competitively priced and "cheap." As pointed out above, EK, SQ, (and QR) compete on price in Y. You will find all of these very price competitive for East Asian and South Asian destinations.
The cabin seating is dense (I've been on the 10 across in a 777), but at the same time, the aircraft are relatively new, well maintained, clean; IFE screens are good, wifi sometimes works, and food is more abundant and also more frequent than on BA.
As a result of their competitive pricing and reasonable service, I've found the flights completely full in the flights I've taken.