For mine, I think QF should just move to a profit based system (or close proxy - ala DJ). If you are making money for QF, you get benefits. If you are not making money for QF, then starting making money...
And there have been plenty of complaints about this too, i.e. the term "Frequent Flyer" is misleading as status more suggests how much business (read: money) you are giving to QF rather than how often you fly them. Hence the argument of the WP who flies lots and lots of domestic Red e-Deals vs. the WP who flies a few longhaul premium class trips.
As sad or cynical as it is to suggest, there is a hidden scale of loyalty beyond WP. Whilst on the written rules all WPs are equal in the system, there are clear anecdotal trends to suggest that those who go beyond WP have a
chance (no guarantee, but just like your chances of rolling a 6 on a die are higher if more than one face is labelled with a 6) of being better treated by QF, e.g. more elbowing power with award seats, more operational upgrades, greater power of selecting good seats when the load factor of WPs is high on a given flight.
As for loyalty split between self-funded and business-funded WPs, however, well, QF wouldn't be able to tell the difference, of course. That's a social issue amongst our community, but in my opinion, like a lot of others here, it doesn't matter how you got the status, the point is you have it. (That is, how you go to the level of WP, not how loyal a WP (or beyond-WP) you are).