It will be interesting to see if this is truly the VS Upper Class lounge experience or if they manage to still differentiate PP customers from VS customers. There is a note on the Priority Pass website that says 'Premium drinks subject to payment,' not sure if that is generic text or an indicator of this potential.
Otherwise I tend to think that options are better than no options. With the exception of game rooms, there are no PP lounge options at LAX and won't be until the Chase Sapphire lounge opens, unless of course AF/KL or the Korean Air lounge has a change of heart and decides to join/rejoin PP.