Your argument is invalid when a Qantas SO costs more than other airlines FO's.... and dare I say, perhaps even more than some airlines Capt's.
Redkite, it appears that you've swallowed some of the dis-information that abounds on this site. Research conducted in the lead up to this QF LH EA, showed that the total QF Flight Crew costs are on par with the majority of airlines and, significantly below a few of the major players. We are not going to join the "race to the bottom".