Surprise, surprise - it's all about the money 😉

Not so directly, but yes.

The Civil Aeronautics Board set flat prices for all routes, so airlines competed on food or better planes.

Then deregulation gave rise to frequent flyer programs as a way to get businessmen to stop picking the cheapest airline every trip. That meant that food was no longer such a competitive advantage.

And coach is coach. It's designed to provoke anxiety and stress as a way to make business and first class seem worth it.

All I really remember was the ice cold silverware.

Lufthansa used to serve stainless steel sporks and knifes which were commonly taken home from flights. Still not sure whether this was forbidden or accepted as a kind of free advertisements when used at the dinner table.