I think any shift towards a Jetstar style Qantas will be at an organisational structure level only. Qantas over the years has become bloated with useless positions. Planes need Captains and FO's, need fixing, baggage needs loading, buns need tossing and passengers still need to be checked in. It matters not if the tail is red or orange.The fleet size can be 136 or just 40, each plane still needs roughly the same number of each of the above.
I really couldn't care less if Qantas was run like Jetstar. It would still be full service, just much more efficient!