On a long haul, premium economy is a small markup to pay for this comfort. What is so wrong is how much premium economy features vary across airlines. Almost like a box of chocolates.
Worst - US airlines (every aspect)
Best - air France ( seat, baggage, food)
ME airline and Asian airlines - non existent
Note: above is based on wide body long haul only. I can survive a couple of daytime hours in a narrow body LCC