I would say that Branson is simply doing what the responsible Chairman of any Group of companies would do - trying to stop the opposition gaining a lead. I recall some time ago when there was some other BA event or promotion that he was speaking against and the interviewer asked him: "But - if the situation was reversed, wouldn't you be doing the same as BA?" and he cheerfully replied, "Yes - of course! I would do anything to promote my company against the others."
You might not like the man but he is doing what he has to do for the company. Likewise, BA has had to pull off this alliance (and the IB merger) as they have to survive. In one interview on the radio today, a BA person was speaking about the need to compete against other alliances at EGLL. That is what this is about - the next stage of manoeuvres to draw the members of each alliance group closer together.
It will be another few years before the alliances actually become the airlines but the present fuel crisis has taken the process a very large and important step closer. People will want to retain some part of an airline in an alliance, rather than no airline at all and let the other alliances take all the business.