QF are in a much better position than EK. A substantial part of EKs route network is badly affected by COVID, will be delayed in getting the vaccine and DXB isn’t a virus free transit stop. Also, their aircraft are too big for the numbers of pax that will be traveling initially.
If the vaccine proves effective, direct USA flights could resume and Singapore is a safe en route stop for London. Japan and South Korea could be available around the end of the year. China might be possible with restrictions. The B787 and A330 are well suited to the lower numbers travelling.
Australia has coped well with COVID and with much of the world likely to remain isolated, it could be an attractive destination for vaccinated travellers from wealthy countries.
The next few months are important in determining how effective the vaccines are and what they actually do. The holy grail is one that prevents infection and transmission. We will find out how long they are effective for and if they protect against the new variants.
I’m now vaccinated and expect this to be an annual event for the foreseeable future. Next years dose will almost certainly be improved as new data becomes available.
COVID isn’t going away anytime soon, but it can be brought down to a manageable level like AIDS has been.