What a "meh" card. I was expecting more.
Sign on bonus is on par with the better cards. Macquarie Black is $99 first year annual fee for 40,000 QFF and 1 point per dollar per $4000 which is more than enough for most people (assuming AMEX gets the lions share of spend)
Westpac Altiude is 80,000 for $195 first year annual fee. So basically double the points for double the fee.
This card falls smack bang in the middle. I'll probably get it for the 60,000 points and the 2 annual lounge passes (as I don't have gold status). The (slightly) discounted (and only one per year) companion airfare is mildly appealing.