Time will tell how it pans out for QF. Whilst I agree in general with what you are saying I think there is probably a point somewhere between Jetstar and QF conditions that is sustainable. Your English football example only holds because the team makes money. QF International is losing money, so something has to give eventually. Perhaps it is getting rid of management and starting again although I think that is also overly simplistic. You can have the best conditions but if that means you run at a loss then that is a problem. I would also say I am not singling out pilots here, I think they have a problem across their workforce which is probably a problem for all old carriers. Plenty of bankruptices across the world:
U.S. Airline Bankruptcies and Service Cessations
Bankrupt Airlines from around the World and the most recent Chapter 11 filings from US Airline Companies
To add to that your equation doesn't hold. Just because an airline is safe doesn't mean it makes a profit. It is certainly an enabler because if you are not safe then you likely will not make a profit. Also experience alone doesn't make you safe, plenty of experienced pilots have speared in.
P.S. Because I don't know what are the pilots and engineers offering to give in return for pay rises, ancillary perks, and job security?