How could Dragon Air ever dream of competing with Cathay? Correct me if I am wrong but I understand they have no videos, no IFE at all on the A320's and absolutely no brand-awareness in Australia or Korea with the public. Also their A330's I believe don't have ETOPS qualifications, so how can they fly to Australia?
As much as I would not like to see it, Cathay will slaughter Dragon Air in China as they have oncarriage and are well known abroad. Unless Dragon get say a whole bunch of A340s and start flying NOW to say LHR, LAX and SYD I think they will get trampled by Cathay. That would be a shame.