I cannot comment on QR of the past and there seems to be some cost-cutting. On the other hand you now have a flat bed on almost every longhaul ac (the few exceptions are scheduled to disappear very soon), which was not the case years ago.
But I have done quite a few longhaul segments in J on various aircraft in the past few months and I have been very impressed by the current product. BA, LH or AF are not in the same league, not even EK. I flew numerous times on SQ J and it is a very very good product, but I would rate the inflight experience below QR. Same for CX.
My main complain with QR J is the frequent equipment swap and ridiculous seat reassignment. But once airborne, it is still a great product (even if less so than in the past according to other posters). And that is not mentioning the attractive pricing.