I read another post you enjoy qantas. Here’s a couple of good articles on using your Qantas points for upgrades or bookings. You may have read them already.
https://www.ausbt.com.au/qantas-business-class-upgrade-guide
https://www.ausbt.com.au/are-business-class-upgrades-still-a-great-use-of-qantas-points
Qantas does go by status also but that doesn’t mean I’d give up on requesting upgrades. It may be better going for the outright award booking on points. You can use the Qantas cash card or Qantas website for booking restaurants, car rentals, hotels or airport transfers, other activities as well to add to your points collection. If you’re going to do the same activity anyway then you may as well earn some points for it! It all adds up in the end.