Rex even cut its inaugural schedule by half, didn't it? Not a good look on Day 1.
Apparently the inaugural flights were running at decent loads but mainly media and aviation geeks, not a lot of 'normal' passengers. Rex also cut is own launch pricing from $79 in economy and $299 in business to $49 in economy and $199 in business across March, so things can't be going very well for them.
If this Boeing 737 capital city service ends up being an expensive white elephant for Rex, you'd have to assume Sharp would be among the many to lose their jobs over it.