>>>Business class is as good as 1st was a couple of years back.<<<
The BA business class seat have attracted a tremendous amount of bad publicity - sitting closely, head to toe with your partner/other pax, with a really naff and flimsy 'divider' between you.
If you think business class is as good as first - have you thought how much first standard of service and delivery has been diminished in the extreme over the years?
Airlines are getting more and more like a bus service, and that's being generous. I doubt most cabin crew can even spell service, let alone deliver it. Airlines have had it too good for too long - and I'm sure SOME of them are at last waking up to that fact.
As for profitability, I doubt it. If major carriers reverted to the traditional First (half way between exiting F and J and fares accordingly) and Tourist, they'd probably do a lot better.
Per Ardua ad Astra! ........ Honi Soit Qui Mal y Pense!