Distinguish the arenas.
Domestically QF and JQ are heading towards the same cost point. With the additional row that QF wants to squeeze in to its 737s there will be even less product differentiation.
That said I would still expect JQ to be considerably lower for some time,
but IFE and an apple and lounge access for some can't add much to the costs.
Internationally, both are high cost compared to competitors and will continue to bleed.
Air Asia X presently from KUL...
In a few years I would expect Thai Air Asia X, Indo Air Asia X, Lion Air, Cebu Pacific etc to be flooding our market from the LCC end
And much greater penetration from the Chinese airlines at the upper end.