MTQatar, I agree with most of what you say and my point is that I believe that Qatar Airways has a future however it's growing at a disproportionate rate.
I firmly believe that the coup that happened in 96 (if I remember correctly) was the best thing possible for Qatar and its people. The previous Emir failed to or was not interested in developing the economy. I think that the present Emir and his government have done an excellent job within the short span of their reign. Anyone who has been in the region for a number of years prior to the coup like myself will agree that Qatar has changed and is changing dramatically.
I also agree that in no way would the "backpack" western tourist provide much to the economy nor the culture of the country. I do however believe that Gulf national tourism alone would also not provide the potential growth you require. What has to happen here is that the government has to provide incentives to large corporations to move to Qatar and at the same time promote tourism and expand the economy.
Making Qatar a hub for traffic to Asia and Europe is not easy either as you have massive competition with Dubai, Bahrain and Abu Dhabi which are already quite well set up for that. Certainly there is room for a National Airline but the growth plans I've seen do not reflect reality.
My point is large is not necessarily better.
We both know very well that within the local culture there is extreme competition with "thy neighbour", if he builds a villa, I'll build a bigger one, if he makes a summer festival I'll make a better one and like wise if he makes an airline I'll make a bigger one to show how much ritcher I am. All this is fine and dandy while the gas and oil dollars flow but that will not last for ever. Diversification is very much required in the Gulf and the only one's that have trully realized this is Dubai. I'm not implying that the oil and gas will stop anytime soon but if there is a market crash and prices fall the local economies will be devastated. It's the old saying of having all your eggs in one basket.
Anyhow I'm probably boring you to teers so as I said before, regards and good luck to Qatar airways.