I think they should also break down the list into "Airlines based out of free countries" and "Other airlines".
I've had limited exposure to the top of the list. My times in CX J long haul left me underwhelmed, given how "great" it was supposed to be. (The HKG lounges were as good as expected.)
Two things AC could actually do to merit a top 20 (without earning a quiet chuckle) would be to improve the food quality and presentation in J, and to restrict lounge access to a more workable cohort of travelers.
Doubling the sizes of the hub lounges would also work, but they can't just "do" that.