...that "Aussie lifestyle thing" we all miss when we are away..... from this perspective, (outside looking in or Internationally focused for Australians) to be fair, the ad's a winner in that respect!
Watch five minutes of the Shire or Being Lara Bingle and you'll feel better. Honestly.
Actually it plays better the second time around; I think the main problem is the voice over. If they'd cut to a few nice 747 livery/crew/ big swanky seat shots at that point it probably would have worked.
On the second viewing the main message is that Qantas Gets You Home, which isn't a bad one. I just think that some shots of exotic places where you might be homesick would have added to the mix. 'Go whoop it up/ cut some business deals in Honkers and we'll pick up the pieces' sort of thing.
After all, if you're watching telly in Australia, you're already home. It's a bit like an ad for expats, rather than a 'go fly places' for the bored majority sitting At Home. Maybe the designer is overseas and missing his Mum?
P.S. nice photoshop with the oranges BTW.