You seem to be ignoring the fact that when someone gets status, it costs QF money. Potentially a lot of money. Consider a WP who flies mainly internationally with OW partners in Y. They use the QF F Lounge before departure and then multiple OW partner lounges while O/S (with QF getting charged every time). Now if that person trades points for Classic Awards instead of MASAs, and loses status as a result, is it still a revenue loss for QF? I doubt it.
You personally may not fit into the category above, but I would guess that you're not in a position to know how many people do. QF, on the other hand, should have a fair idea.