If you are high-end 'bucket and spade' (and I dont mean just heading to Disney with the kiddies for two weeks and forking out mad cash because its Disney), wouldn't you be more inclined to freelance for the best business class deal for your 1, 2 or 3 yearly holidays, rather than tied into BA just because of the FF program? If fewer people are flying business in the future due to less need, or less desire to fork out for corporate contracts, doesn't that blow a big hole in the BA balance sheet? I seem to recall they had a pretty solid lock on a lot of the big travel contracts in London at the very least.
Seeing news reports of BA halting ticket sales, even short term and for a few weeks, doesn't really lend itself to feeling confident for booking with the in the future at ALL, long or short haul. BAEC may have its value, but the actual BA customer experience and product does not.