Correct, and on BA metal too. So the absolute best use would be [Domestic Airport-] LHR-SYD, and that's a bit tricky to get, except perhaps at T-355 or if GGL or above. So perhaps some trade offs will be needed, and there are quite a lot of moving parts. So unless something else gets factored into this, it's only the UK-Dubai sector where the 2-4-1 can be used.

But the Avios may well be useful within Australia/NZ, and perhaps on Cathay too if there is a DXB-HKG sector involved.