I think VA have really blundered by not offering at least J SCs for upgraded fares.
You need to consider what you are actually getting for your bid. For non-status pax I think it's only increased baggage, priority luggage, check-in and boarding, a slightly bigger seat and a meal and drinks.
For status pax it's a slightly bigger seat and a meal and drinks.
I can't work out who would think $200+ for the above on a short-ish flight is worth it. I could get a fabulous meal before or after the flight for this price - much, much better than what is served in J - especially where it's a snack service.
Given for a status run many would consider $4 per SCs to be good value awarding SCs for this offer would make it much more attractive. I understand that they don't want to devalue the normal J rev ticket but these sorts of offers strongly suggest the difficulty they are having filling these seats anyway!