Regarding the seating, it's in the overkill range for a corporate jet, but the 747-SP is a significantly smaller plane compared to the regular 747. Capacity-wise, and size-wise, it's about the same as a 767 or 787, which do see some service in the corporate charter/owned jet.

It's used to fly the San Jose Sharks hockey team and staff.

That all depends on how grandiose your executives' lifestyles are. I wouldn't put using a 747 as a corporate (or even private) jet above some people.

Air Force One is a 747. The Executive Branch lifestyle!

Personal plane for John Fry.