I'm not sure I follow, with Emirates - they are also just using a major hub, with a much better geographic location.
And if you look at many of routes QF's 747's currently do, I suspect they will continue, albeit with smaller capacity aircraft (notwithstanding possible frequency increases). Thinking SYD-SCL, SYD-JNB, BNE-LAX-JFK, SYD-HND (this last one may be relevant, there are more A to B flights with MEL/BNE-Tokyo flights). Aside from the game changing routes like "sunrise" routes from SYD to LHR and JFK, it's difficult to see what potential there is for a whole more "A to B" flights .... maybe more routes in Asia (eg BOM, ICN, TPE?), or US-bound BNE-SFO or BNE-DFW, SYD-ORD, but these are still connecting to hubs (AS @ SFO, AA at ORD/DFW).