I think you are all looking at this backwards.
As pointed out, EK flies everywhere already. It won't be people buying tickets on Emirates and ending up on a Jetstar flight- it will be people buying tickets on Qantas and ending up on an Emirates flight.
Isn't this the management dream? They get to lower their cost base (down to EK's) by not having an airline at all. They just sell the tickets, and EK provides the actual airline.