IMHO FWIW I think the "what's wrong with Super Rugby" question is a pretty much a Red Herring. Most of us like to watch our team play against the Kiwi teams and even SA teams. The concept is fairly sound. It's the people to watch it that are missing.
The structure of Aussie rugby is currently missing the key piece that the public need to identify with. A professional domestic competition. This is where you generate your fan base (and market from). The teams and sport would be relevant, accessible, identifiable and part of our weekly routines. From there the tribalism will grow, the supporter base will grow and the game grows. You will never get this from an amature based competion which is all we have left if Super Rugby goes.
One you have that local competition showcasing Aussie teams against the worlds best (lets say a limited duration Super Rugby competition for arguments sake) would work as it's a "special" and we would like to see our (Aussie) teams match up against the world best clubs. Bit of extra interest and extra revenue potentially.
But our product is not designed or fit for purpose in the domestic market so it's not locally accessible nor identifiable. People just can't relate to it it as its at a distance or in such limited quantity. It's comparative to a local food delicacy. You may of heard of it but it's rare, supply is limited and only a few get to try it; when it's in season. It doesn't appeal to a broad local fan base (and we wonder why the game is struggling
).
IMHO the very first challenge before we even think about TV deals is to break the current mould. The amature obession need to be killed off. But good luck with that as well all know about the desperate need of those entrenched in the game desire any power they can have, relish the politics and position and cling to the history that they rely on as justification for their continuing behaviours.
Until the amateur obsession is killed off the game will be divided and continues into the oblivion with no common agreed direction going forward nor ideas on how to generate revenue or appeal to the masses. Who (or what media outlet) would invest heavily in that?
Yes the Wallabies cash-cow might provided for the game for awhile, but with declining local supprterbase and players numbers it won't last for long.
We are already close to being reliant on budgeting from one world cup to the next as the only way generate tha extra income required to keep us going.