I doubt QF would rebook into JQ with a max bundle (they bl##dy well should though, it comes with 2 meals and 30kg of luggage, making to much closer to the QF offering) .... but if they did, and the OP was travelling discount economy fare on QF, the points earn on JQ MEL-BKK would be greater than on QF MEL-SYD-BKK.
TBH, QF should just automatically provide 2x meals + 2 x $15 vouchers on JQ (to cover beverages) and pay for IFE ($13) and amenities package, and that more or less brings JQ up to the QF standard, minus the emotional factor of and the colour scheme of the QF, I personally find the in flight experience differential nowhere near as dramatic as many make out.
Also as a SG, I'd compensate myself by stocking up on beverages and some food in the J lounge before the JQ flight
Other than that do QF routinely compensate for 3.5 hrs delays? Not uncommon on QFi to have lengthy delays ...