Well I received Business Status credits and points for my February *Class BKK return journey; ~240 SC's and 19K QFF points; (cost $1175 on promo )

And another FTer reported travelling in *Class HNL-MEL and QF J MEL-SYD last month on the one HNL-SYD booking earning 180 SC's.

So if they give J SC's and points well perhaps "Business Class" can be used in advertising. (Also you get J lounge access where there are QP's)