A tracksuit is still a tracksuit and is banned. (Apparently) anything can be a uniform.
Track suits aren't banned at all. They are perfectly acceptable.
Imagine banning them in international lounges. You'd scrap half your customers in one swoop.
But fortunately this rule has nothing to do with class so those nice places are spared. This rule is about making tired domestic QPubs appear to attract higher income clientele than their Virgin counterparts, so they can keep charging more and retain customers. It fools the sort of people who link dress with income, which is not an insignificant portion of the population.
It does nothing at all to change the experience of the lounge for anyone except those arbitrarily kicked out. But Qantas knew that, which is why their international customers, for whom the experience is paramount and what others are wearing is immaterial to that experience, are immune from having this marketing stunt impact them.