<<What kind of "premium pricing"?>>

I think this refers to merchant fees for accepting the new card class which would be set by Mastercard, not the cardholder annual fees which would be established by each issuer.

<<No annual fee and Airport lounge access from the same card sounds hard to believe.>>

I doubt that it costs much to provide this benefit. The $400 "retail" value of a Priority Pass is a fiction. Their own website tells you that discounts of "70%" are available for corporate accounts with "hundreds" of users. This makes the cost about $120, and I believe it would be less for a card issuer buying "thousands" of memberships, because the utilization rate is low.

dennis