Now I understand why complimentary upgrades are so difficult to come by
What follows is a presumption that the the OP can reserve the PE seat at the time of booking.
What i find fascinating is that PE on the 777 is equivalent to, at a minimum, first class on any other single aisle plane in the US. It is in fact close to what we use to call "Barcaloungers" on the trans-Atlantic flights in days of yore.
What the posters above have said is that they cannot go 5 hours without a meal of dubious quality compared to what we find on the ground, and cannot sit comfortably in the first class seat provided by AA. If that is the case, pay the $280 and get the seat.
OTOH, if he is able to tolerate the seat and risk the toxic atmosphere (

) of AA coach, then I would take the money and splurge on a meal after i reached LAX.
Of course, all bets are off if PE is already full, but given the state of the pandemic, the likelihood that someone in PE is going to UG themselves, or cancel means that a PE seat should open between the time of booking and flight, but if that is too risky, then take the sure thing.