Best Answer - Chosen by Voters
The heart of the problem in Oz is in the first three words of your second line:
There is not enough depth (including of competition for Elite positions) because there is not a well constructed and properly organized pipeline for player recruitment and development. Without the sort of depth of planning and development that other nations (most obviously SA and NZ) have, Oz is left with nothing at all between Club and Super 15, and not enough leading up to senior Club level.
In an era of professional sport, Elite player compensation will be set by market forces (see SH players overseas). A few more run-outs like the SCO game, and some of the lads will see their international value sadly diminished. But rugby union takes many years to learn to play at top-flight level, and that learning has to be guided by coaches and trainers who actually know what they are on about. Otherwise you wind up with International props who can't scrum, hookers who can't throw the ball to their own jumpers, and backs who can't kick strategically. The RFU needs to work out a strategy to provide player development. Where they will get the money to do this is another question, but until they develop a formal strategy that goes form grass-roots to Wallabies, they won't be able to sustain a high-end national program.
Mark L