NZ only has one carrier. Looking at the lens of someone living in NZ and wanting to go overseas NZ is in a monopoly position.

There might be competition in single routes but really AirNZ is the only airline with a international network in NZ. No one else hubs or focus city out of NZ.

QF potentially has a focus city in AKL as there is onward travel to JFK. If QF offered another NA or SA flight out of AKL could shake things up (particularly destinations that need more than on Aussie city to fill the plane, so transit in AKL makes more sense than the Sydney transit experience & can leave at home city at 830amish vs 6amish.