I really fail to see how abolishing First Class, or hot food catering, could be a 'better standard of travel'. You are obviously entitled to your opinion on First Class, but if that is currently 'fairly rubbish' then what kind of class were you thinking of - VSOE Pullman, South African Blue Train?
I guess that good reliable WiFi costs money, and perhaps experience has shown TOCs that travellers are not prepared to pay extra for this service? In any case, I am unsure what relevance that has to First Class or catering, except perhaps that it could be provided in First Class?
Perhaps you don't travel 4+ hours in each direction on a one day business trip. Get up at 5am, down to the station for 6.45 then cooked Full English Breakfast on the train. Plenty of space to do some work. Arrive to start meetings at 11. Snack lunch and meetings until 4.30pm. Return to the station for the 5.30pm back with hot dinner and some more work, and arrive home by 10pm. Now I could call in at the Tesco extra for a cheap chilled sandwich for breakfast, and a gunk Burger King meal before returning, with no decent hot meal for 15hr or more, but why would I? I could go by 'plane instead, which would give me more time to get a hot meal, but that is hardly in the railway interest.
Even if you are only on the train for 2 hours, you may have considerable extra journey to and from the stations at each end. Do I want to scratch about in Greggs, Tesco Extras and the like for a snack meal, or stay out even longer to eat in a restaurant somewhere. No thanks!
The demand for First Class and catering is bound to be greater on London Inter-City services (simply because they have the most demand for business and other travel), rather than provincial lines. However I do wonder whether any cheaper 'dumbing down' of First Class on these lines would really attract more custom - businesses that are more cost conscious than their employee welfare are just as likely to ban this class too. As for making everyone travel in one LCD Standard Class - No thanks!