I think if you fly a lot then GGL can help with some of the minor or moderate irritations of travel including a quieter lounge, more pleasant boarding experience, increased likelihood of getting your meal choice etc. Whether these factors are substantially better than Gold/OWE is somewhat debatable.

Personally, my greatest joy from GGL status in post-covid times has been giving partner cards to people who wouldn't otherwise benefit from status and then living vicariously through some of their experiences. Jokers I still don't find terribly wonderful compared to GUFs for long-haul travel, although I can see there are specific use cases. The GGL line are normally helpful although if you fly F you can access them anyway via YouFirst. Hilton Diamond I appreciate, the HEX upgrade- literally couldn't care less!

I think fundamentally BA feel they have a product that keeps people at the frequent flier level spending money with them in premium cabins and I can't imagine they see the need to significantly improve the current offering.