Flying back end (usually) I've certainly noticed a real slide in the CX offering, as compared to my last CX flight pre-Covid. Last month I had a pretty uncomfortable flight DXB-HKG. No drinks service other than with the meal. Breakfast was a cruddy, flavourless chicken sandwich. Left me to mull on the impact of reduced cabin space also. And other flights over the last year-and-a-bit were at best uninspired.
Yet CX still charging a significant premium. And filling seats due to limited schedules to/from HKG (especially on CX but quite a few carriers yet to return). Hence the profitability from high load factors - bolstered of course by freebie tickets from government crowding out / increasing prices for those of us whose travel is dictated by work requirements.
It used to be easy to justify paying a premium for CX. Schedules & reliability for those paying for my work-related flights; quality for me (e.g. when I'm not getting reimbursed). And of course FFP benefits. It became much harder to justify the CX fare premium last year, especially with reduced schedules (e.g. HKG <=> Middle East down to a daily HKG-DXB & vv).
For first time in 13 years as of this month, I'm back down to Green. Only the third time since 2000 IIRC. Annoyingly I had a 4-sector long-haul trip which would have been in PEY or J which was repeatedly deferred, which left me short.
No with basically no benefits whatsoever now for Green, I'm now reconsidering who to align with going forwards. But yes, based in HK, it may well end up being a grudging continuation with CX. But can't help feeling it's time I explored other options.