Whilst at least the author gets a couple of general things right which some less measured reporters/commentators do not:
1) the incidents being reported more frequently lately are (and have been) for the most part normal and part and parcel of being an airline (though he doesn't specifically mention that it happens to other airlines as well)
2) QF indeed are operating planes they would have counted on having retired by now due to delayed delivery of replacements (some 747s (A380), 767s (B787)) - though he fails to mention the 787 - not that I'm sure when this was originally targeted for delivery.
...I think the article is a fantasy, a puff-piece, just really posed as a far-fetched 'what if'?
On the negative side:
1) Is Qantas really our 'national airline'?
2) He appears to be confusing Ryanair with Aer Lingus (I can't find evidence of Joyce having worked with FR, happy to be corrected)
3) Jetstar moving upmarket? - really, in what way?