Ha ha ha ha ha.
Air Europa is... not a great airline. Set your expectations to 'RyanAir' and you'll be about on track.
That said, I was able to get an exit row seat assigned thanks to SkyTeam Elite Plus status. And I did receive lounge access at a contract lounge, despite the checkin agent saying I wasn't eligible and the lounge sign not including an Air Europa logo.
I got into a war of words with a gate agent about my carryon (wherein I demonstrated it fit in their ridiculous sizer, and she still wanted to force me to check it). She had printed out the bag tag and wasn't planning on charging me, so I assume you get a checked bag allowance...
Long story short, UX was not a premium experience and has way more in common with an LCC. But they did conform to the minimum expectations I have for SkyTeam benefits...