It is pretty much back to how it was before QF switched to a piece based system except that the allowances are up to 30Kg rather than 23Kg

The current 1 bag allowance allows max 23Kg

If you want to take 46 Kg, then you would need 3 x 5Kg @ $210 per 5Kg , so $630 rather than $1050

Different airlines do have differing allowances and if wanting to take 46Kg in economy class, indeed would be probably wise to choose another airline that better meets ones needs

Just need to remember that airlines are but a company to do business with and that there are many out there to choose from. When I did tend to use Oneworld carriers for travel to Europe, then BA was my choice when I had large amounts of luggage since (in 1st or business) I could take 4 x 32 Kg on BA vs 30Kg/40Kg on QF

The new rates do seem to be comparable from what I remember them being when QF last used the weight system

It makes sense that QF and EK align their allowances I suppose , but am surprised that QF is moving back to weight based system after only recently moving away from it