I'd be surprised if Fight Club and The Cinema were shut down. In each and every one of these promotions, year after year, QF would have two very clear data points:
1. The volume and value of flights booked during the booking period, and
2. The volume of Fight Club and Cinema entries sought and bought.
Now, item 1 is all self explanatory.
But, item 2, I would hazard a guess, is a reasonably significant number in the overall scheme of things in terms of volume of entries bought*. Certainly on a trend basis, there would be a bump up in numbers.
What QF should realise, and I am sure that they do realise this, is that these entries bought are actually
bringing forward and locking in passengers future purchase decisions. And these are purchase decisions that either:
(a) would never have been made if these entries were not available to be bought. This is the case where people simply plan to do a status run, or
(b) when there are genuine travel plans in mind (i.e. not a status run) this removes/heavily influences the future option of the passenger choosing a different airline to make that travel as they have purchased the entry to the Fight Club and The Cinema already and they will be inclined to use that entry to maximise the outcome to them. Price and non-price differentials between airlines on the day of booking that travel is less likely to play a role in the decision when the doors to the Fight Club and The Cinema are about to be opened.
QF would risk losing this revenue - if indeed it is a significant level of revenue.
From a strategic perspective:
(a) Being able to lock in today a customers future purchase decision, and
(b) Eliminating the competition from that future decision making process, and
(c) Being able to influence a customer to make a purchase that they otherwise wouldn't normally make (i.e. a status run)
are all highly valuable levers that have positive upside for QF with little to no negative downside.
*(And if the volume of Fight Club and The Cinema entries bought and eventually redeemed are actually insignificant then why would QF bother to spend money to make changes in all of their systems to thwart the sale of a few of these entries - they simply wouldn't as they could spend their IT change project money elsewhere for a better outcome).
Just my two cents worth.