At least on quite a few routes, yes, I'm afraid so, in both cash terms and points terms (except for the cash element on BA's own metal using BA Avios).

E.g. look at SYD-SIN on QF metal using Avios and QF points and you'll see what I mean. QF: 66k + cash component is something like £170 equivalent. BA's is 60k with a lot less cash (I can't remember the exact amount but it's a lot less).

I've been juggling the two programmes for the last 6 years and I've consistently found BA redemption rates to be better than QF on most routes I fly in cash and points terms, however QF points have their uses such as cash+points, upgrades etc. However, of course you need to look at the earning opportunity depending on your circumstance.

No good sacrificing a good earning opportunity (e.g. 100% points bonus for being BA Gold and flying on certain carriers, which don't include QF as the OP is aware) for a slightly better burn rate, for instance. It's easy enough for me to do as I'm about 70/30 between Europe and Australia but it doesn't work for most people to be splitting OW into two programmes (I have the advantage of multiple statuses across different programmes including lifetimes so I don't need to worry about earning status, making it much easier and can focus on the points, although I don't touch SkyTeam!).

If people want to maximise their points earn/burn, they do need to do a lot of individualised homework, including checking which programme would cost more in points/cash with each carrier for the particular route they may wish to fly. I sometimes get it wrong when I get lazy and don't check things properly despite having been a QF Plat for a rather long time (although I'm quite happily a QF Gold at the moment because I am on a QF long haul avoidance until they put a better seat - I'm happy with the refurbished A330 seats but not others, and JQ is out of the question) and I certainly wouldn't pay cash for non-A330-refurb.

Something I should mention to the OP is that if they think they'd fly JQ, then they'll need a QF status to get any benefit, because it's not a OW carrier.