Works fine for me been using it for a couple of years now.
I believe pp has between 850-1150 lounges & lounge key has between 550-650 lounges .
I use the cc always, but I believe a few people also gained access using the app.
Cant complain really, u shall have lounge access at most airports. Unfortunately am in t2 in Munich but no lounge in t2 , only in t1.
The good part many arrivals lounges also.
BTW check with ur bank , I am allowed unlimited free access for myself + one guest .