The biggest issue QF have by granting your request is precedence. Once they grant the request once and you post that on social media, everyone else will want it as well (especially if they believe they are worth more to QF than you are). QF should generally never break the rules for anyone, no matter how important the customer thinks they are.
Every for-profit company 'breaks the rules' if it's to benefit the overall strategy. This is how people and corporations commercially evolve - by taking advantage of opportunities that present themselves.
In the OP's case it simply could be that the person they interacted with at QFF was not empowered to make these types of decisions in a commercial manner or perhaps it's a hard line stance on comp years. In any case I hate to think how many other customers have a similar conversation and walk away feeling abandoned.
Should QFF comp the OP another year of Plat for past loyalty? Maybe/maybe not, but there's more considerations than status credits. For example:
- How many points is the OP sending into the FF program from CC/partners etc? What's the value of these?
- Is the OP sending 100% share of wallet of their flights to Qantas already? What is the internal risk calculation that this customer will shift their business in the future?
- Does this customer buy tickets for others? If so how much/what's the value?
- What personality does this customer have? (Complex issue but basically if OP explains this to the wife - what are her feelings towards QF? Many mothers will see this as being penalised for having a family and instantly cut QF future travel - Velocity solved this perfectly FYI).
- When the OP does buy tickets, what type of tickets and is this type of customer one we want on our books? (pax buying F tickets is incrementally more valuable -- and harder to win back - than an all economy purchaser)
- Potential future spend of the OP, how much and what does it look like?
It's never black and white with so many variables to consider but it sounds like the QFF system doesn't make this type of data available to the very people who take the call when a customer calls to discuss their situation. It's unfortunate.