Very poor QR J availability - MEL to Europe

Aren't we at the point where you have to ask whether the whole points thing is (for the vast majority of people) nothing but a Ponzi scheme?
 
While I'm naturally bemused by Qatar's pulling of their normal 90,000 point "saver" awards to/from Europe (replaced by 180,000 point "flexi" awards), the other side of the coin is the recent 20% AmEx bonus promotion.

If these bonuses are going to be a regular (yearly or more frequent) occurrence, that means that the savvy frequent flyer could convert points during the promotions and fly to Europe in Business class for 150,000 avios (with the 20% promotion taking the points balance up to the required 180,000 points).

This compares not unfavourably with the 159,000 points required by Qantas.
 
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- Earn 60,000 bonus Velocity Points
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