It won't be a popular opinion but I think as it stands when QF gets back to flying there will be job losses and will likely come back a smaller airline, now assuming most here still believe in free markets and true capitalism then VA and QF should be left on their own.
If as most here have figured out VA goes under due to chronic long term miss-management then like in the Ansett days QF would have to pick up the slack, which means it will not only employ all of its staff but in addition a lot of VA ex employees.
At some stage of the game another airline will be born and new jobs created and a new cycle will begin once again. This is what free markets and true capitalism is all about. I would argue the same for any industry else we might just as well just give up and go all in on communism, Where kinda half way there anyway!