flight credit for less than amount?

[Mwenenzi]

I may need to cancel some flights with Qantas that were sale fares.
I can get a flight credit, but I see in the terms you can ONLY use them for flights the same or for more than the credit.

Is this true?
The new flights I want for later in the year to a different destination are for less, but I'm happy to eat the cost and lose the money - can I really not book for less and lose the full value if I want to?

Original flights were around $2K new ones would be $1200

ExecTrav Qantas rejigs flight change fees, travel credits

Qantas is revamping its Flight Credits scheme to make the program more flexible, while also delaying an increase to the fees for changing or cancelling flights. From today, Wednesday October 9, Qantas customers holding Flight Credits will be able to use those credits across multiple bookings.

The previous system was widely criticised for only allowing passengers to use their Flight Credit to rebook fares equal to or higher than their original booking, which meant they had to redeem the Flight Credit in a single booking.
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Have not been able to find on QF

Edit

https://www.qantas.com/agencyconnect/au/en/agency-news/agency-news-october-24/making-tickets-held-in-credit-more-flexible-for-customers.html