I'm not in QF or JQ, so really can't contribute to the specific EBA arguments on either side.
But with significant and fairly immediate reversals in forward planning and downsizing that has occurred following the Victorian COVID increase, wouldn't it be in the QF group's interest to keep the status quo until an enduring expansion is on the cards? Keep LWOP for as long as possible. There may be more ups and downs before an ultimate stabilisation.
With this in mind, I agree that rushing to any non reversible decision right now might not be the ideal choice.