Keg et al,
Think it through a little further.
Assuming the V-Australia product is say about as good as the same fare would buy a traveller on QF.......
Then you have the fact that (as you say) the QF crew are paid about twice what the VA crew get.....and the 777-300 ER's economics are known to be markedly superior to the 744....
Is that situation sustainable? I know you would agree that QF should have bought a 777 fleet but even with that is there some special reason the travelling public will continue to vote with their credit cards to pay the QF drivers such a premium?
It seems to me that the VA 777 operation has much lower hurdles to get over to achieve profitable ops than does the QF 744 fleet. And that fleet is aging daily.
But then I am only a humble pilot whose best days are far behind me.