It is a fair comparison and it is not flawed in the context that we operate in a global marketplace for players. Club rugby in France and the U.K. Is dominating player payments and the general interest in rugby in that part of the world. You can't get a different result if you maintain the same old vies and refuse to look to model yourself on the most successful model of professional sport.
I still don't think you're making a reasonable comparison. Out of everything the ARU is in control of, the Wallabies are far and away the best revenue generator. There is no option for the ARU but to rely on the Wallabies to drive their finances.
The ARU would dearly love huge injections of private equity capital into the Super Rugby franchises. This is essentially how the European model has ended up where wealthy owners are willing to spend money on the teams to fund the massive salaries etc. The appetite for it just isn't there in Australia.
The Rebels were previously privately owned by Harold Mitchell who then sold the club back to the ARU and now the Rebels are back in private hands (the Andrew Cox consortium). Each transaction has effectively cost the ARU money and all that the private ownership is enabling them to do at this stage is to reduce the amount they lose on the team each year.
The Waratahs looked at a private equity model when the license came round for renewal a year or so ago. None of the opportunities were compelling so they kept the status quo.
What Australian Rugby lacks are wealthy owners who are keen to own a team as a lifestyle asset and lose several million dollars a year for the privilege.
Until and unless that happens there is no conceivable way that the Super Rugby sides or clubs below them are going to be sources of revenue in Australia. There is literally nothing the ARU can do to shift the revenue model away from being the Wallabies and subsequently they need to use that to generate as much revenue as possible to flow down to the lower levels of the game and the grassroots.