QF international flights are QF1 - QF399.
- QF1 - QF199 are operated by Qantas, displayed in lists with a red triangle except specific Qantas branded companies, e.g. Jetconnect, which are shown with a green square.
- QF200 - QF299 are codeshares operated by Jetstar, displayed in lists with an orange star.
- QF300 - QF399 are codeshares operated by other airlines, including oneworld carriers, displayed in lists either by a green square or purple circle.
Anyway, the OP seems to have not the problem that they booked a QF codeshare operated by JQ by mistake, but rather presuming that redeeming for a QF award with a QF flight number, albeit operated by JQ, would result in "QF service", i.e. free food, entertainment etc.
Unfortunately, this assumption is wrong, and the fine print when you go to book an award flight sets this out:
Award Booking Availability (Step 2. Select Flights) said:
Food, beverages and entertainment are not included on Jetstar services unless you book international StarClass. Items may be purchased inflight if available, and pre-purchased on international flights (excluding New Zealand). On Jetstar international services, amenity kits (blanket, neck support, eyeshades and socks) may also be purchased.
All of this very much underlines the fact that unless you are awash with points and/or have no choice but to choose such JQ operated sectors, redeeming points for JQ operated flights are usually a bad idea (redeeming for JQ Y gives you only JetSaver standard service (i.e. only thing free is a bag); whilst redeeming for JQ *C gives you a PE standard product at a J points price = very expensive!).
As for the OP, unfortunately you were wrong to presume that your redemption would result in "full service" as you would suggest, even if you redeemed on a QF flight number. It doesn't matter that you used QF points to redeem an award on JQ (in fact, there is no other way to redeem a ticket with JQ, except possibly with JQ Dollars on the JQ Mastercard). I'd expect as much that QF will come back to you with a similar response. So no compensation is due for this part.
As for the flight being delayed 2 hours, this could happen irrespective of whether you paid points or cash, whether you flew JQ or QF. If the delay caused you significant hardship and you could justify this, then perhaps QF may look at this case to give you some compensation, but I'd be making sure you have strong justification. Even then, I'm not confident on your chances of getting compensation here.
Overall, I'm sorry to say that I'm not optimistic there is any compensation due for you.