I have never flown SFO-SYD on Qantas before (heck, i’ve never even been to Australia!), but I sure did enjoy seeing that big red kangaroo tail on my commutes from San Francisco down the peninsula. As of yesterday, QANTAS is all done serving SFO. SFGate reports that QANTAS is moving this plane to serve SYD-DFW, which is a much larger American Airlines (OneWorld partner) hub.
With the absence of QANTAS, United is left as the only carrier flying non-stop to Sydney. I doubt this will help everyone’s upgrade chances / award availability. If you’re desperate to fly Qantas to Australia from San Francisco, you can pop down to LAX and take a ride on their Airbus A380 that leaves from there to Sydney.