The fall of first class, the rise of business and premium economy?

[MEL_Traveller]

Agree with most of that. But who buys PE when it's the same price as other's business class?

I guess a lot of people. While QF sometimes has fares as low as $3500 to Europe for PE, I've seen it in the $5000 range as well. That comes in almost $2500 more than a mixed class (economy to Asia and full business from Asia to Europe return), and around the same price as full business from Australia.

I suspect many compare it only to QF business, not to the competition.