CX do offer the same TP points as BA would and I would also agree that splitting the journey on the ticket if not in fact, boosts both TPs and miles.
The issue is how much more are you prepared to pay to BA to get additional miles. I am also interested in VK comment about an upcoming premium sale from BA……
Frankly BA are going to have to go some to beat CX and others for that matter.
BA to HKG in Aug (2A 2 kids) in club £9750 and an jaw dropping £17400 in First. I did LHR SYD last August for almost £7000 less in First!
CX in business to Bali via HKG is £9000 with some bucket shops offering it for even less and this is before I look at alternatives KLM new service to Bali is less than £6000 from LHR.
Current JFK in Club World is over £2000 on BA and the last sale got this down to £1500. Great 25% discount if you were going anyway, but the last premium sale did not encourage people, particularly leisure travellers to upgrade.
I would welcome greater restrictions on Club and First fares if they were reduced and allowed BA (or others) to fill excess capacity. But I know for certain that in August and to a great many destinations, BA will be upgrading huge numbers of people, many of whom would have gladly paid a little extra (double perhaps) at the time of booking. For other they will simply lose those to the competition as BA fares are simply to high and are not justified by some extra miles.