For me, Qantas has points have fallen in desirability because they are challenging to redeem internationally.
I presume you tried multi city search? Ie search AU to HGK, the HGK to EU. Or via Japan, Doha, Sirlanka, Fiji, Duba, Singapore.
Agreed. Luckily I had some Virgin Velocity points a few weeks ago to book 2* Qatar Business class seats to Europe next year. I’m moving my earn to Virgin points currently as at least they have both Qatar and Singapore Business awards 330days out with decent availability. Also enjoy that you can increase the points redeemed to reduce taxes.
My huge pool of Qantas points are currently useless for my useage case with no Emirates, Qatar, or Qantas Business class seats availability currently a year in advance and only the 4 months in advance that by which time they are mostly snapped up. YMMV.