No way would this pencil out for me as an HNL-based flyer. All of those other benefits combined would still be inferior to being able to use GGUs to upgrade on my long-distance trips. And wouldn't members who earn GGUs be the most likely to already pay for lounge access?
I always laugh when domestic airlines ask you to evaluate the free on-board meals thing. Sorry, this isn't fine dining. AS's total cost of my on-board meals for the entire year must be less than the fare difference between F and coach for one of my trips.
The one useful thing here would be rollover EQMs for us Golds who fall into the large Gold-75K gap each year. Althought I'm sure our esteemed 75Ks would look askance at inflating their ranks!