And say what, exactly.
Since it's so popular with our glorious leaders, let's scrape a few barnacles off this hoary old thread.
Barnacle 1 - Business Class was over-subscribed. This happens to all airlines at some time or another, whether from over-booking or IRROPS. Qantas is not a serial offender in this, and gets loadings better than most. [Scrape]
Barnacle 2 - Qantas offered to put the OP (and others) up for the night and get $700 for their troubles if they could delay travel for a day. Pretty fair offer but the OP declined. [Scrrape]
Barnacle 3 - A Qantas representative (allegedly) took their frustrations out on the OP in a less than stellar example of customer service. Qantas have accepted this as fact, have taken actions to address it and given the OP 50K points and an apology. [Sccrrrape!]
Which gets us to the issue that worries the precious listeners the most ...
The compensation table for those that choose a downgrade over a reschedule or refund, is overly simplistic and works in Qantas' favour. This is the barnacle that is stuck fast to the good ship AFF, as it hints at privilege being only an ephemeral thing that status does not always protect.
Solution - fly economy. From there the only way is up!