I don't remember if the iPads display the fare class (that's something to find out on my next long haul). But as QRC3288 mentioned, it was never about the fare class, but rather status. VIPs and DMs (Plus/INV/Regular) always receive priority, I think, even when they're op-upped.
Is status the right way to determine meal order? Not unreasonable, I'd say. Sometimes they run out of choices for non-status pax, but that's an issue with catering. I would encourage anyone who didn't get their preferred choice to write to CX.