From the travellers' psyche yes, but you may need to explain to me why shareholders would be laughing?
In this particular example, it demonstrates that Qantas is minimising its cost and therefore maximising profits, by providing accommodation to the fewest possible passengers. More generally, they are operating leanly with a large number of similar cost-saving measures which don't seem to impact loyalty, as Qantas passengers continue to choose them over other airlines in droves. This demonstrates both short term results and long-term value to shareholders.