Point 1) "Sell out" is silly -- and loaded -- but otherwise what you wrote is simply rational. Cannot bank the "next generation," whatever that is.
Point 2) Like it or not, Qantas will become competitive -- or will fail.
Its competitiveness will include its getting rid of its anachronistic airplane-plumber (by any other name) stand-over and shakedown racketeers. Probably by relocating overseas.
And old hands will share cockpits with folk in pilot costumes who, a few decades ago, in America, were called: "low bidders." (Nowadays: "Computer Gamers," maybe?)
Zed!