The term 'business' lounge is rather outdated now.
You'd be surprised who flies with 'low cost' airlines now.
Sone people just like to sit away from the noise, congestion etc and relax in a relatively quiet environment and have a few drinks, snacks, read etc.
Because someone is flying 'low cost' it doesn't mean that they may not want that little bit extra before they board. The area is relatively wealthy and l think the lounge would be well used.
But yes, the whole terminal experience needs a complete upgrade, soon.