Is first class worth it in 2026?

As business class products become ever more luxurious, is it still worth the upgrade to first class?
Business Insider

I paid $500 to upgrade from business to first class on British Airways. I was blown away by luxury perks like a private suite and massages.

Before my trip from Sydney to London, I upgraded my British Airways ticket to first class for $500. The 22-hour journey gave me access to VIP airport lounges and the airline's new first-class suites.