Not quite, because priority pass makes nothing on the flight when you fly, but QANTAS does. The problem here is that for their infrequent flyers who they gain very little money from nothing really changes. If you fly once a year and you get 2 lounge passes from a credit card then you'll either use one each way or use one and give one to your wife. Either way you're still taking up the lounge. For the frequent flyers who are putting cash into QANTAS's pockets they already get lounge access from the status so their passes become worthless to the majority of them.
If everyone kept paying for priority pass but not using them then they would love it, if everyone stopped flying QANTAS and so their lounge usage went down they would be in big trouble.
