Yes! You are raising a valid point which has kept me thinking for a while. How much is status worth and is it worth to go out of the way and stick with an alliance to keep status?
For me, I am at the point where I believe that elite status with an alliance is only useful for short-haul trips where the company is not paying for J. Then it is nice to have priory check-in, boarding - but that's about it already. There aren't many more benefits and worse case: PriorityPass gets me into the lounge too.

Long-haul I am flying exclusively J - either paid by the company or out of my own pocket for vacation etc
There is close to zero benefit of having status of you are in paid J.
TK: You don't need status to get into the business lounge.
QR: You don't need status to get into Al-Mourjan lounge.
Airlines are improving their product end2end incl experience on the ground.
Why limit yourself to an alliance and miss out on airlines - e.g. would love to try Oman. It is supposed to be great too.
If you are flexible with timings and departure airports you might be better off just jumping on some deals.
I was 100% sure I would use my TK upgrade vouchers this year. Haven't used them yet as QR has some really nice deals where paid J was close to what TK was asking in Y (which would then be upgraded). I am almost booked for the next year.

Food for thought and apologies for letting y'all participate in my thought-process I have not completely come to a conclusion yet ...