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There's first class travel and then there's real first class travel, which means traveling in style and the luxury you really want to. When you own or charter a private jet, you can literally have all of the luxuries that you desire and you'll never want to fly commercial again.
First class in general means the best there is. First class on commercial airlines simply means its the best you can get on a commercial flight. You still have to fly on their schedule, depart and arrive at their few chosen airports and incur any delays or cancellations that do happen. You have shorter check-in and possibly shorter security lines, but you still have to take off your shoes. Your luggage gets a First Class tag, but it's still slow in arriving and possibly lost. You get better food and lots to drink, but are served on the flight's schedule. You sit with fewer neighbors, but they are still not necessarily your coworkers. They play more movies and music, but it's not your selection. All in all it's far better than the back of the plane, but its far from true first class.
True first class is getting exactly what you want. Your schedule, your departure and arrival point, your routing, no delays or waiting, no screaming kids, the food and drinks you want, served on your own schedule. On-board services that you want and no interruptions of any kind. THAT'S the exact First Class travel experience you get with a private flight. And to get that class of travel without having to have a first class budget, you want to charter your flight. By chartering a private plane, you get true First Class travel, without undue expense, since you only pay for each trip as you take them.