The RIN on the 747 will happen and positions will be on fleets that can carry a surplus and that surplus will continue on probably agreed lower divisors until the extra 787s arrive and the 350s alleviate the surplus on the 330. No knock on demotions, no redundancies and lots of retirements over the next few years is the word Ive got. Gotta remember QF haven't got a very big fleet of aircraft, the RIN on the 747 is for a total of 5 aircraft. At least 6 of the 380s will make a return initially so again revised lower divisors, and retirements will mange that aircraft until demand picks up. Might see the old divisor of something like 132 being reintroduced as a temporary measure. 737 can also carry a surplus with divisors being cut to 55 hours as a further option as it will be the first fleet to experience any form of normality until restrictions of international travel are lifted. These scenarios save money in the long run and keep good operational staff occupied instead of chasing other options and are there ready to go when it all picks up.
The sky isn't falling in.