Business class is about the seat. You have more space, and an available bed, so you can be more comfortable and well-rested rather than beaten up by the time you reach your destination. None of the ‘above and beyond’ business class products are offered by U.S. or European airlines.
At that point, then, the gradations in service matter but I do think – once the product hits a certain level of quality – it becomes more (though not exclusively) about schedule and price.