I’m flying business class to Europe return on an Etihad ticket - not sure of the ticket class yet.
I’m a Platinum Velocity member (over 200,000 points) but only a yokel with Etihad guest (lowest category of FF, 30,000 points atmo).
Normally, I would claim Velocity points for the flight but Etihad are supposedly offering 4X points: https://www.ozbargain.com.au/node/195664
Doing the maths, I would get between 2.3 and 3.0 X points with Velocity based on my Platinum membership depending on ticket category (business or discount business).
On the basis that I don’t entirely trust the Etihad offer, that I would lose my Velocity Platinum status, but possibly regain it in November, and I require more points to book the same reward flight with Etihad compared to Velocity, I am planning to stick with earning Velocity points. However, it seems that there is more flexibility/availability for Etihad rewards flights.
The other obvious factor is that Velocity Points can also be used in Australia - however, I have never had any joy trying to use Velocity points for domestic travel because the points required are quite high and the discounted airfares so cheap (as a Gold or Platinum Velocity member you don’t ever have to pay for luggage on the cheapest fare as you get a free checked in luggage allowance, which is often enough for two people).