When Canada did this, it was because they were worried about their relatively weak culture and national identity being overwhelmed by America's. Australia doesn't have that problem. They're the big guys in the region and seem to have a much stronger sense of what it means to be Australian than Canadians have about what it means to be Canadian. That's not an insult, they have a much bigger neighbor with an almost indistinguishable culture, history and language, and thus have trouble saying who they are past "like America, but not". New Zealand and Tasmania likely have the same problem with Australian culture dominating theirs. I gather Kiwis get pretty sick of being mistaken for Australians.
So, problem in Canada, not a problem in Australia. Why is Australia taking the steps Canada did if they don't share the problem?
I'm not saying this is a bad idea, I'm just wondering why they think they need to do it.
As a former Australian, the culture is being subsumed by the worst parts of American culture.
Long gone are the days of the knockabout larrikin culture of my youth (we're only talking 20 odd years ago too) which has been replaced with American style selfishness and ignorance, a grab, snatch and take followed with "I got mine, fuck you". If you aren't old enough to have 20 houses, there's nothing left for you to grab, snatch or take either. The old "laid back" Australian image is just a myth these days, "She'll be right" has been replaced with "I'm alright Jack".
As for this particular move, the old system is dying, by that I mean broadcast TV and it was broadcast TV that used to pay for all the local production. This is again Americanism creeping in with a little help from the British, TV is little more than cheap reality TV any more. If it isn't American style reality, they'll steal things from the British (Strictly Come Dancing, Bake Off, Love Island (which was only named such because Chlamydia Peninsula was already trademarked)). There is little in the way of local drama and local comedy produced these days. I'd hazard a guess that is the kind of thing this move is trying to stymie.
I've long since moved away and found something in the UK I realised Australia lost, it could still laugh at itself, it wasn't taking itself too seriously and sadly that seems to be dying out in the UK now.