Just watch QF jump on the bandwagon now.
The inevitable price war will drive down prices and profits for both airlines.
If QF mainline stayed in the market, offering a mixed class service focussing on the business travel component of Australia's largest non-capital-city market, they could've retained corporate customer loyalty and enjoyed some half decent revenues for the last 7 years.
Instead, locals tell me the Gold Coast business community are filthy with QF for pulling out, forcing them onto JQ. Give them a taste of Virgin's half-decent product and they'll never be back. Brand loyalty wasted, the vast majority to never return even IF the Red Rat rejoined the fray.