EK will be watching this very closely. They have virtually stolen Qantas's business from them without having to cough up a cent. If Qantas is cut loose they will be forced to buy into Qantas in a big way to protect the best investment they never made.
EK will be dearly praying for the Government to bail Qantas out, that way EK will be able to continue to pick up all the traffic and use all the landing rights without paying a cent. I doubt that CX or SQ or whoever else would be interested would afford them the same luxury.
If the restrictions embedded in the QSA are removed there will be a stampede of International airlines with a vested interest in trying to get on the share register.
Of course the other option is EK could start a wholly owned domestic operation in Australia and completely f^ck the industry for us.