eh. each to their own. I spent many more years flying SQ than I have QF (although each year it's getting closer and closer to parity) and I'd say that QF's FF program is hands down better for what I look for in a program, which is benefits derived from loyalty program both from business and personal travel. I can't see how SQ would top the Star Alliance programs for a number of reasons (earn opportunities, the pretty ordinary elite level qualifications/offerings and the very restrictive expiry policies), maybe the VA tie up makes it more flexible for Australians than other *A programs but for me, I'd place it firmly in the ho hum bucket - I am not for a minute denying the soft product quality of SQ vs QF but I don't care about that at all personally - I just want to be able to travel with family and leverage benefits off the back of airline loyalty and points earn and QF has way more opportunities for that than KF does.
For some people, the soft product is everything, I get that and respect it but I don't think it's reasonable for that to be the single metric that decides the value of a carrier/FF program. For me I don't care one bit, it's tangibles for me, I want easy earn opportunities (think SC earn on award seats via Points Club), to redeem reward flights and access lounges domestically and internationally (incl. leveraging lifetime status) - there's no way the SQ product is better at this than QF is, especially if you live in AU.