No exactly.
When I asked to transfer luggage from QF to OZ I was firmly told no can do, although both airlines have codeshare agreement. But when I tried to transfer OZ to QF (with very low expectations) to my surprise they managed to do it for me.
Another example is TG to RJ but not vv.
Rules may have changed over the years but generally speaking *A is more flexible with luggage transfers to other alliances IME.
Which means very little in light of "benefits of (an) alliance", let alone the better alliance. Just because within an alliance it so happens there are quite a few carriers which have several interlines, that's not a (gazetted) benefit of that alliance. But if the ability to check through interline across the alliances is
that important to you, then so be it.
Interestingly, QF and OZ have an interline baggage and ticket issuance agreement, however we know that fairly recently QF has tightened considerably on what they will check in, viz. restricted mainly to *O and some other partners. This is especially true if both are on separate tickets, let alone the OZ is issued on the OZ flight number, not the QF flight number.
Also, there's little point for interline if it is to QF domestic, since all bags need to be reclaimed anyway. But you might have had something like ICN [OZ] SIN [QF] BNE.
For whatever it is worth, getting tickets which include airlines across more than one alliance
and that have no long standing interline or bilateral agreement
within the same journey, is not common.
