AB makes sense if you fly with them (40% bonus, decent amount of miles for most booking classes) or when you travel within Australia from time to time /you have privileges - lounge access and excess baggage - with both QF (oneWorld) and VA (EY liaison)/ or when you need to use EY on top of your oneWorld travel /note: while in Y you will not get lounge access at all airports!/. Otherwise there are better programs (like AA), but they rarely do status match.