If you go the military route you will have a guaranteed career path with training and study paid for, and good career opportunities after leaving. The other route is the opposite, no guarantees and you pay for everything, often with a massive debilitating debt. You have to compete with your own cohort with identical training for the scant jobs, and see them go to people whose logbooks show initiative and relevant experience rather than following a bouncing ball.
A degree is good to have as a back up in case you develop a condition that may stop you from flying but it won't make any difference in a civilian flying career other than networking.
Maybe chat to your former instructors, most of us can spot someone who has what it takes to succeed in the military very early on. It's not something you can teach, it is innate. They might be able to give you an opinion of the career path that would suit your personality type.
I'd say apply for the military and if that isn't successful look at the options for civilian flying training and careers. Qantas isn't the be-all and end-all, there is so much more out there.