ULH is a definite advantage but it only applies to certain markets from Australia that's the USA and UK currently - several possible other stops in the USA - I guess it would make sense to extend the network in S America - Rio, Sau Paulo, ?BA? but it gets a bit low rent after that. Maybe re-enter the European market? Paris, Frankfurt, Rome?
For the rest of LH you still have to scrap it out with the local airlines