But. If you look at this in principle, without focusing on the specific country, then it is difficult to argue in Google's favour. Countries may want to preserve their media institutions, unlike the US. They may not want to watch journalism die at the hands of Facebook and Google.
The way Facebook and Google "decimate" is by being middlemen and extracting the lion's share of online advertiser revenue. They are positioned to collect larger amounts of data by being middlemen for all online content and thus can offer more value to advertisers than any single media publication.
These two companies have plenty of cash. If a country asks them to pay, they can. After all, neither produces any content.
That is the issue as I see it. Not Australia in particular but whether a country's media institutions can ask Facebook and Google to pay.