Sorry smit, but that logic is what got Greece into so much trouble. Even govts that borrow in their own currency can only borrow so much before either their credit rating sinks or inflation takes off.
Unlike Greece, however, Thailand getting into any sort of trouble will not bring down an entire region or economic bloc with it, nor do their citizens have the right of absolute free passage. This means they can extort their citizens if need be without serious repercussions. It wouldn't be right, and I'd wager that the Thai people could raise a militia better than the Greeks could. On top of that, if the operation of Thai Airways starts to teeter on the difference between making or breaking the country, then they would have gone way, way too far off the edge.
Overall, I'm not sure what "contempt" really means in terms of TG's offerings on Australian services. I guess that's coloured by most people here only flying them in J or F, which is at least satisfactory in nearly all cases. Hardly anyone here flies Y, let alone flies on a ticket which they bought in cash (buying points and burning them doesn't count).
TG wants to send their old aircraft here? I'm not surprised. Outside of the key markets centred in SYD and, mysteriously, PER, they really don't have serious competition, so unless you're prepared to go indirect, then you're stuck. Whether or not TG are actually making a dime on any of these services seems oddly irrelevant: if you are happy with the product, you certainly aren't concerned about their profitability or lack thereof; if you are unhappy, you might comment
that is why they are unprofitable without actually having the evidence on hand to establish that causal link.