I remember at the time post-Covid travel boom and Virgin, Jetstar and Qantas were self-imploding with lost baggage, lack of staff, huge check-in queues and lack of planes and mass flight cancellations domestically, and yet Rex still couldn't get off their butts and market themselves despite their competition self-sabotaging in front of their eyes. I recall some posters on here seeing Rex B738's take off half empty with terminals heaving with disrupted Qantas, Jetstar and Virgin passengers. Someone could have walked through T2 in SYD with a sign hung around their neck saying "flights to MEL leaving in 1-2 hours on-time with free baggage for $300". A few enterprising members on here cancelled their delayed QF VA or JQ flights and got last minute Rex jet flights but people are peculiar and sometimes get mentally anchored/tunnel vision with existing flight bookings and relationships to existing airlines.
With less psychotic top management and a decent marketing department, I think the actual front-line Rex staff and the airline would have been able to pull it off in that brief window when all the other airlines were self-destructing. Just goes to show bad/incompetent management can destroy any business no matter how good the economic tail-winds.