I agree. I used to be a Joyce proponent as Qantas was a business basket case and he turned it around somewhat, but now the Qantas brand has been trashed. I understand the share price and credit rating are important so that an airline can get funding for future aircraft purchases among other things, however the current state of Qantas is clearly not in the long term interests of the shareholders.
Further to the trashing* of the brand, Joyce has effectively created a culture war between customers and shareholders. This is not sustainable for the airline and if I were a shareholder I'd be seriously angry (family members of mine were shareholders in the last 12 months - not anymore).
*when there are nationally televised comedy skits lampooning the current appalling service, when forums are overflowing with bad stories, when pretty much every major news outlet (newspapers, TV, online journals) in Australia have reported serious Qantas service issues - it's making national headlines; your brand is trashed.