I agree. In the early 2000s I commuted to Milan weekly for 18 months. In the days when BA had a decent short haul business network from LGW including Malpensa. 50/50 between economy and CE.

We used to buy the cheapest tickets available, I imagine by the time the cost of lounges was knocked off the airline didn't make that much money.

Was I a valuable customer, not really. Was I a loyal customer, not really either, as we used BA because the company forced us too. Mind you CE on BA was a much better offer in those days.

For that reason I think BAEC will eventually change to something revenue driven.