A bit sad to see, although not going to effect me too much... This year i'll hit 1000 SC's of which 700 are probably QF flight numbers.
So this year will get 16,000 in bonuses and next year would only get 8,000.
The only problem I have with this is I am only too happy to fly on QF metal or QF flight number, but when they have ceased some of my main routes and replaced it with codeshares where I don't get any status benefits (ceasing of SIN-BOM) so there is no real incentive to fly on the QF codeshare with Jetairways, as my Gold status means nothing there. I'd rather fly on CX to get benefits of my Gold status.
To me slugging it out on a QF codeshare service, with no priority checkin, no priority boarding, no seat selection, no tagged luggage, no lounge access is not worth doing just for 8,000 points, i'd rather fly on an interline service with CX, or BA etc at least I will get these status benefits.
I hope the Emirates partnership will fix some of it, ie. hopefully they offer QF flight numbers on all the Emirates services and extend the benefits of Silver, Gold and Plat across the EK network then it'll be fine.
My guess at why they did this change is probably due to MH joining OW, they've never had a OW partner so close to Australia before with lots of flights from Aus around the region they're probably worried about people flying more on them and vice-versa people in Malaysia flying domestic routes with MH and signing up to QFF just to get loyalty bonuses.