Qatar destroyed my baggage

Qatar Airways mishandled and destroyed my baggage. Specifically my very expensive Evoc Pro Roadbike carry bag, including damage to the contents therein (bicycle). Luckily the bicycle is insured. However the luggage is not. The market value of the bag (cost to replace) is EUR950. I bought the bag new within the last 2 years (submitted the original purchase receipt to Qatar) and have used it only a handful of times (condition = good as new). Qatar Airways has processed the claim and offered to pay out USD571 (half the value of the item that has been destroyed). Their Conditions of Carriage policy is clearly unjust - this does not nearly indemnify me for the damage caused by them. Booking reference NQ8OEN (Munich to Cape Town, 28 September 2025).