"Once there is equipment that can do it, and the western airlines all catch on, the hubs will be busted"
Only if the price is equivalent - people will put themselves through some amazingly uncomfortable hoops to save a hundred dollars.
Also you have to assume you are going to serve a lot of the current spokes. In the UK you have a choice - you can fly to Heathrow and connect with BA or QF or you can fly direct from your local airport in many cases to Australia via the Gulf. Only a lunatic would choose to change planes in Heathrow rather than Dubai, Abu Dhabi etc. Emirates alone flies to 6 UK destinations.
If you see the 787/A350 as "smaller" then maybe you can add some of these locations but will they generate enough traffic to support a non-stop service?