Further more, the Australian connection really is such a small part of EK's network.
Emirates recently stated:
''Strategically it is a very important market for Emirates. [Australia] is now Emirates' second or third [highest] revenue-producing country,''
Emirates will soon operate 84 flights a week to Australia, so I wouldn't downplay the benefits of a domestic tie-up for both EK and QF. It's not just regional feed, but links capital cities so you can say fly into Perth on Emirates, then QF domestic to depart Sydney. It gives EK a much stronger Australian network with multiples of new options for travelers. With close domestic connections, it will show for example that EK can get you from ADL to DXB 5 times a day.
The QF international network is so small now anyway that an EK tie up may not make a difference at all , it will never expand regardless. Perhaps a shift to more US destinations would be possible.
I do agree QF management have a very long history of pi$$ing off other airlines with their arrogance and with the current management seemingly only able to kick own goals, there is a good chance they will completely stuff this one.