Whilst
VB may not have the 'Legacy' issues Ansett had, it is amazing how many other similarities are building up between the two carriers.
Their main threat is that they (like) Ansett are surrounded by a bigger, more aggressive competitor which has worked hard to niche
VB into their current position.
QF tolerate
VB because it allows them to avoid monopoly costs whilst enjoying near monopoly profits. However, I dare say if that situation were to end, i.e.
VB getting too big, then the rat would strike with a vengeance.
The 777 services are $500k a pop. If QF engages in a price war, it will very quickly drain the coffers of V. However, I suspect V will be left largely alone to prevent the entry of SQ on the LAX route.