Hmmm, fine dining. Today its a bit of a misnomer.
As others have said, fine dining was a step above in service, ambience, but not necessarily food.
Mr. Perrys' Rockpool indeed was a lovely place. Deserved to be included in the 'fine dining' world. I read another post which mentions Movida. Whilst I think it was brilliant, its not by my definition, fine dining.
El Bulli, Noma, Fat Duck, La Tour D'Argent, Savoy Grill....etc! It will surprise many, that few, if any 2* or 3* restaurants run at a profit. It has most always been the way. Nowadays, celebrity chefs use them as there marketing tool to venture into other projects.
Previously, the top chefs would stick to an obscenely priced menu with an attached cookery school. That's were the money was. Training other chefs. I'm going back to Bocuse, Ducasse, Le Roux, Lorrain. (circa 1985 to 95)
But, back to Mr Perry, he has simply diluted the pool. Makes a dollar or 2 from the B&G. He has his name there now in lights, no need to have the tax write off.