But since the advent of Locos, many people appear to be sidetracked over just the low cost option.
You are quite right.
To get to SYD from LON is certainly not cheapest LON-DXB/BKK/KUL/DOH/SIN etc. which would cost approx. £1000 in the summer.
Whereas LON-NCE-DXB-KUL-MEL-SYD return was available for a total of £679 in the summer. You get what you pay for...