Is premium economy worth it?

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I do believe QF have one of, if not the best premium economy product in the world.

I do not believe it is worth the price they charge for it (2 - 3x their economy fare).
 
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4. Are other carriers offering business class for similar prices? This is what holds premium economy back for me. You can usually fly J on another carrier for only a small increase over premium economy on the carriers that offer it (and it can be cheaper too).

This is the key. A little bit of creativity and an acceptance of a world beyond QF can get at a minimum an angled lie flat J seat for not much more. The other question - particularly around Australia-Europe, which is where PE seems to be most successful is which is the better option - Y to/from Asia (~7-8hrs) then J to/from Europe (~11-13hrs) or Y+ the whole way. The former can sometimes cost less than the latter.
 
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