We all wish that QF would introduce a LTP thing, but despite the article I am not hopeful - QF has not done it yet, and they are fairly steadfast on certain things.
Having said that, in my amateur view they should go there. I can only use my own situation and viewpoint for that belief: 7 years ago I was not a QF FF member - had zero SC and was bronze. Due to increased flying and discovering AFF, I got keen on the whole FF thing and due to this I was able to rapidly "rise". I attained LTG a year or two ago, and enjoy P1 status.
With the absense of LTP I have lost all need for QF other than retaining that P1 status - my last membership year I calculated things and ended up aquiring just enough to stay on P1. But I also gained megastatus on two other airlines. Half of that would have gone to Qantas if LTP existed.
Like all status things, it hurts to "drop". I once aspired to be Silver
Then when you get Gold you would hate to "only" be silver. Now when I face the prospect of losing P1 I would hate to "just" be WP. It is a horrible reality
BUT, there is another side to this. When you fly enough to be P1, I am sure the joy of travel wans for many. If you have to fly, then any goal is just an additional part of the equation and something like LTP is a small benefit that is nice to aspire to. But the day I lose P1 status I will hurt. And wont want to fly. This may appear obscene to most of us AFF'ers, but even LTP is just that - platinum! If you have flown the several million miles that would be required, you will have got over the whole status thing. You learn that if you fly QF in the pointy end there is really no significant difference being P1 or Bronze.
I have my LTG. When I am a pensioner doing a trip or two each year, I have sufficient status to get access to a lounge, which is enough for me.
I ask the question, what is the real value of LTP over LTG unless you are in a tiny subset that flies only in economy, and internationally? We all get blinded by earnt status - we make travel decisions and spend 1000's to get/retain. Money that would buy so much more in real terms using cash.