Sandpit - there are some 200 + international schedule airlines alone (IATA members).
Whilst Qantas continues to maintain its position in the top 10 global airlines (refer to Skytrax awards - 18 million passengers surveyed), the carrier undoubtedly is considered in the 'top bracket' of global carriers. And as I understand it, pipped EK in the 2010 awards at number seven, whilst also taking the best Y+ award?
At the end of the day, it's about the end-to-end experience for the consumer and Qantas seems to be delivering this at a high level as evidenced by their ranking.