Many A/F flyers don't really need the program status benefits since many of the during-trip benefits are bundled in with the A/F trip. Also, the bread and butter of European airlines seems to be more from the premium economy and business class flyers than from long-haul A/F flyers. First class cabins seem to be dying as part of 3/+ cabin offerings ... while premium economy is seen as more gravy for the airlines than a first class cabin on top of a business class cabin.
For a mostly economy class flyer on Star Alliance carriers, spending a $2500+ premium to get *G may not be worth what many may status-seekers think it is worth. Especially in this era where "basic economy" fares may mean getting less as a *G than being a *G in the very same economy class flight when not on a "basic economy" type fare.