(And maintain strategic partnerships with numerous airlines, some of which continue in oneworld, in a similar way to what Virgin does.)
VA does alliances/partnerships terribly in my opinion, I'm by no means saying that QF is perfect! But from reports in the VA forum (and my own personal experience in the past) suggest every different partner of VA has different rules, some are not integrated properly or at all ie status not passed on, airline partners not knowing who VA is, lounge access problems, and so on. I have heard Delta is better in these respects but still there are some problems.
OW is quite robust in the fact that it is consistent with its rules, benefits and proper integration between airlines, I also include EK in this statement they have integrated them quite well. When I fly QF or a OW airline, I generally don't need to look up benefits I just know what I am going to get, there are no discrepancies, (only one I can think of is QR Doha Premium Terminal First lounge access, but I have read this is now fixed with the opening of the new Airport).