Does selling the artwork not count as a ‘refresh’?
More seriously, there’s no money right now. Given BA’s debt pile and limited forward bookings, plus who knows how many more twists and turns on the covid road ahead, they’d be foolish to blow what little they do have sprucing up what are really perfectly adequate lounges [ducks for cover].
Specifically for T5C, this would also require HAL to spend a large amount on opening up the space (remember BA doesn’t own the terminals, so can’t make structural changes themselves). HAL has no money either, and what they do have goes in payouts to shareholders, so that’s also seriously unlikely to happen. It was originally part of the full move of AA into T5 (which was planned for 2023), but I imagine those plans also look quite different now.