These days, the value prop is much lower for airport lounges.

Back in early 00s - they offered a few things that you couldn't find elsewhere in airport: Namely work cubicle w/ comfy seat + wifi.

Most airports now have ample wifi, food, drinks, etc....so maybe the only thing is the "comfy" atmosphere (airports are never really comfy tho...)

One of the best uses I ever had of a lounge was the Heathrow lounge used to have private showers (probably still do). That meant after an overnight flight I could take a quick shower on landing so I could go straight from airport to London office without needing to first do the whole hotel checkin routine. But admittedly thats a pretty narrow usecase.