No great loss actually. The only places where hubbing through Heathrow doesn't involve back tracking or a deviation from the most direct route is the rest of the UK, Ireland and Iceland. Now with the UK London is still the number one place Aussie want to fly to, so servicing there makes sense, but Ireland, the UK outside of London and Iceland are hardly major traffic generators.
Most other places (and indeed the places mentioned above) are all accessible one hop from Dubai and two from Australia via Dubai. No brainier really and of course you get to aviod the mess that is Heathrow and avoid the inevitable cancellations to BA's short haul network if the weather in London or elsewhere in the UK turns to custard. Spoken by someone who lived in the UK for 4 years, with a job that involved flying around Europe once every 3-4 weeks mostly on BA. If I had a dollar for every minute I spent circling Heathrow, or waiting to be rebooked on a cancelled flight I would be a rich man.