I dunno. Technically, you could call quite a bit of my weekend relaxation flying a "status run" - across the ditch for dinner, a nice night out, comfy digs and then back to the broom cupboard in Auckland for a coffee before flying back. But, really, the "status run" side of it is just a secondary component.
That said, since having to spend more time travelling for work, it's become something of an eye opener the way that OWE can get you a bit of a comfier experience even in Y. Would I burn the cash to get back up to P1 (thank you boss for paying for about 80% of the way there on that one) - probably not, but I've also not been into SYD F to try the secret menu yet. CX and JAL have been extremely generous with the complimentary bumps to W and J in the last few months (as were BA last year).
I probably would do the status runs for the creature comforts of WP in future years, though. Would I be overly concerned about the ethics of it? No - as has been mentioned above, the planes are flying anyways, and muppets like me would be supporting jobs. If you're going to be flying a dozen flights anyways, a couple of extra shots in a seat to bump up your comfort level isn't going to have a broad impact on the planet. But it might have a broad impact on your state of mind.
P.S. I drive an electric car and have the house off the grid on solar. I'm no petrol monkey, but I think we'd do well to maybe focus on the big industrial polluters before kicking Joe Bloggs for damaging the environment by having a jolly.