With the majority of premium cabin seats being sold these days, elite status means little now, aside from being able to select an extra legroom coach seat for free and boarding somewhat earlier.

I’ve been surprised at how much more permissive (first class) travel policies are now in my industry (finance), but someone did point out to me recently that F fares are often significantly cheaper now than they were in the past.

I think the move now is the same as at hotels in the US- buy the seat/room that you want to be in, and be pleasantly surprised if you get an upgrade.