Interesting hearing the different views of club level.
TL;DR - Club level prices are top-dollar and the level of service doesn't match the price tag. But, its Disney - so you don't have many other options - and Disney know it. So they give the level of service they can get away with. Club level is absolute cash-cow for Disney - a big price jump for very little actual difference (i.e. very little difference in operating costs for Disney, just a much bigger profit margin). Its nice having a lounge/"retreat", but you will pay a lot for that privilege and some cheap snacks/canapés. Given how profitable it is - there is no doubt it will come back; its simply a question of when. That part is impossible to say - they may wait until they can run buffet type operations again - or they may modify the service to be table service.
I think its fair to say that Disney's entire hotel experience is far-far below any competitors at a similar price point, including standard rooms, suites and club. A very simple example of this: there are very few hotels out there with a rack rate of $600+ where they don't immediately jump on your bags on arrival and whisk these away from you. At Disney, Bell services can sometimes be non-existent on arrival, and in most cases you need to go to them, and queue/wait.
But honestly, the standard of "club" level in mainstream hotels varies hugely, not only between the brands, but between locations within the same brand. However, there is usually a big difference in club lounges between hotels that provide free club access based on elite status, and hotels who only provide club access to those staying in executive rooms/suits. In many cases, hotels that provide this free access to elite members often have more basic offerings (yes, there are many exceptions to this - I know quite a few lounges provide, for example, free 24/7 champagne!). However, high-end chains that do not provide lounge access based on elite status (e.g. Mandarin Oriental) consistently have exceptional food, drinks, service and unique and special offerings, and it is much more like being in a boutique hotel within a hotel.
So, unlike many hotel chains, Disney does not provide free access to Club level based on loyalty levels. They only provide access to people paying top-dollar. So really, their offering should reflect that. I must admit, the last time I stayed Club level was 2015 at the Polynesian, so I don't have recent direct experience. I believe it has improved quite a bit - particularly the food - since then. However, the overall experience is still very poor when compared to other "pay only" club offerings in the industry. Much like everything else Disney-hotel wise.
I still remember my arrival experience at the Poly club level back in 2015. It was a 21-night club level stay (yes, I'm from the UK!). No one to take our bags - someone "escorted us" to the Hawaii building while we struggled with four suitcases. On arrival, we had to wait, as both desks were dealing with guests. When we got our magic bands, we went to our room and found someone else's clothes in the dresser. We were then given a new room (had to move our luggage ourself) - got to the new room and the magic band reader on the door didn't work, so they had to get maintenance to come out - so we had to sit in the lounge for a while until they got it fixed. I cannot think of any other hotel that charges $700/night where that would have happened.
On the flip side, one night we overindulged at Tambu lounge, so the next morning we missed all of our Fast Passes. As was usual, when we did finally leave our room and walked past the concierge desk, they would ask what we had planned for the day. We laughed and said - not much - we overslept and missed all our fast passes and we are feeling a bit delicate. To my surprise, the cast member said - don't worry about your fast passes, by the time you've had breakfast, you'll see three new ones good for any ride - just walk on to the ones you want. Sure enough, in
MDE - three "green" fast passes appeared. So maybe you're more like to get a few bits of magic sprinkled in to your trip.
Would I do club level again? Well, I'm DVC now and to be honest the DVC rooms are far superior to club level rooms - at the Poly at least (although I'm sure that will change with the upcoming refurbishment). However, even without DVC, I would not stay club level again. There just isn't a huge meaningful difference. Honestly, we love the dining aspect of vacations, so the we like going out for a full meal in the evening - so the "free" snacks are not important to us. Once you take that away, what really is there? The private check-in doesn't really make any meaningful difference - other than you get a chair to sit on - but in the days of online check-in - why even bother in the first place? I'd rather take the $150+ extra per night and do some other cool things with it. But of course, if money is no object, then I guess... Why not?