For work flights, we approach it with BFOD. This often ends up being QF due to higher frequency and comparable prices. A sandwich and coffee at the lounge (due to status or points club plus) and/or on board may save $15-20 compared to buying something in-air or in the terminal, but this doesn't factor into price /schedule comparison when booking the flights themselves, in the same way that employees earning QFFP is not a factor in deciding the best business value of a flight.
There's also the assumption the products wouldn't change (though it wouldn't override cost/schedule): on the longer daytime legs, the complimentary (and other than over the bight - very usable) wifi is definitely a factor for staying online during business travel, and even the complimentary meal would sway a decision if cost and timing were comparable.
For personal travel, I generally use points earned via CCs so am not used to paying cash for flights. If all airlines had no program, then I'd be BFOD in the case I was buying tickets, looking at total cost incl baggage etc. If it was only Qantas dropping QFF, I guess I'd be converting more Flybuys points to Velocity and flying Virgin.