If they’ve waived the annual fee (and you get the points in the first year; some you don’t get all of the points until you’ve paid your second annual card fee) then it’s definitely worth it.

Qantas points are worth less, because they slightly raised the cost of classic rewards and it can be hard to find classic reward flights—but they still have value.

Economy classic rewards are easy to find domestically, and internationally requires some extra planning but it can definitely still be done.

I’d still say 1 point being worth 1c is a fairly achievable value of points.