I somewhat agree with Matt on the article. Yes you can get good value on domestic flights redeeming QF points, as I've done it to travel to destinations like PER from SYD which historically have been quite expensive fares. In my opinion where Qantas Points are a waste are for flights to NZ where you are paying a ton of points for virtually no savings. I mean by the time you pay the taxes and fees how much money are you truly saving on a QF fare? $100? And for that you burn through 40,000 points, not great value in my book!
I have also had success booking long haul flights in business with Qantas, most recently flying SFO to SYD (via LAX) on American in J for myself and my partner as a classic award. Where he is right is that yes, other programs do offer better availability to certain regions. For instance, last year I flew to Europe no problem on Etihad using my Aeroplan points, all in business class. More recently I flew to Brazil in business class on LATAM, this time using upgrade credits I got as a result of a LATAM Black status match. $800 USD for a one-way fully refundable economy fare that could then be upgraded to business class using those credits is a no brainer compared to forking out 108,400 points just to fly business on QF to SCL.
Another point Matt touches on briefly but I think should be stressed is that you can almost always force frequent flyer programs to open award availability up for you. And no I don't mean being a Platinum member, I mean using routings to your advantage. For instance, Qantas may not have availability to London Heathrow from Sydney when you're checking. Fair enough. But what about Sydney to Singapore, Tokyo or Kuala Lumpur? More than likely they do. And usually at one of these connection points you'll be able to find a J classic award flight to Europe in the days following your arrival into the hub. So instead of flying direct to LHR, why not spend a couple of days in SIN, then fly on to HEL or LHR, as the case may be. And for the return? Fly back via the US! Spend a little quality time New York or LA. Fact of the matter is you'll spend a similar amount of points flying around the world in business class as you would booking that return flight to LHR in business. And you get to visit some extra countries and continents along the way. And isn't that the whole point of aspirational travel?
-RooFlyer88