With all these changes, for me it’s probably better to concentrate on collecting and point hacking more $AUD, which seems to be accepted by more carriers and allowing for conversions. Flight availability with $AUD is also amazing.
I do like this change as it is better than ‘points plus pay’, however for J and F long haul, you really need a truck load of points.
With Classic Awards it looks like there is ‘less’ available and that perception is true, due to QF member growth increase, enhancing competition for the same amount of Classic Award seats.
I will be keeping my points stash for Classic Reward long haul unicorns that show up and also waste some on domestic business class.