I’ll take a good quality restaurant breakfast (not the standard US airport hotel buffet) over a club lounge, foregoing evening options. But for a mediocre restaurant breakfast I’ll prefer the quick service of the lounge.
There are hotels that offer some amazing breakfast spreads, especially in Asia. If I had to pick one city with the highest average it’s Kuala Lumpur. The best single hotel breakfast I’ve had was probably the St. Regis Bali. And the chain with the best breakfast benefit for top elites is unquestionably Hyatt.