From my POV this is largely costs associated with Super, both current more so historically, and what I am going to term mis-management. We are told that income is largely due to the Wallabies, so nothing changes there. Nor with the 12 year Lions and a home RWC.
Super should fund itself which does mean seeking better income, better broadcast revenue, better marketing. It also would be assisted by more content. Presuming a domestic arrangement with 10 teams: Twice the teams twice the content, increase in income if not double. Huge impact to avoid losing Victoria arguably the heart of Australian sporting nation.
Super costs are interesting. In Qld having the QRU double the teams I doubt would double the cost. Especially with centralised academy and development. I suspect, after what we saw with the NRC implementation, teams increase would need to happen through QRU.
NSW has different issues that impact any domestic planning. There I'd imagine the Waratahs dissolving across SRU clubs able to show an interest and ability. Again with a centralised academy and development system. It could easily start with three teams.
Presuming we get Melbourne back that gives 8 teams. 10 would be better but things can certainly start at 8. Set up would be interesting as actions would be needed to balance the talent and that is going to be problematic, particularly at the Brumbies. it isn't beyond the wit of man though.
Follow the domestic season with a TT champions league style arrangement. My personal thoughts here is to pull the domestic teams into some form of representative teams with SOO in mind. If the kiwis think we need 2, fine, if they think it should be 4 fine. I would have the core of the Wallabies coaching team take control of those teams with an essence of implementing largely whatever strategy, game plan, specific players that the Wallaby HC wants to see in place. So it becomes a selection for the Wallaby squad as well a TT. I suspect this would bring more interest than clubs crossing the Tasman does at the moment.
If that is too much then fine, just make it the the top ranked teams from the domestic comp.
Ideally I'd focus the players not in the Wallaby squad back into the clubs after this and look to some form of inter club comp being woven in.
Overall the quality of the domestic comp will go backwards. At leat initially. Over time though you would look to build it. In the mean time the TT picks up the quality prior to the internationals.
For the life of me, this could have been established, or something similar over the last 10 years without our financials being substantially different and I'd argue with the Wallabies having dropped no lower.
[As an aside, I am posting this remotely via Elon Musk's Skynet (or whatever it is called). Gee the world is changing fast.]