PEY seems to have been a great success for CX. I recall at the time CX introduced it on the Aus routes, being baffled by the perceived wisdom in Aus that there was no market for PEY on routes into Asia given how consistently full I was seeing the cabins on CX. Yes, some of this is connecting long haul but a lot of traffic is Aus-HKG/Asia. It helps of course that CX did a good job with PEY from the get go relative to other airlines.
Having omitted PEY on its 330 fleet, it will be very interesting to see if QF configures its incoming 787/350-1000s with PEY for Asia use. I think they would be crazy not to.