I think as an Australian, it's a bit of each.

There is not a great tradition amongst most Australians of trying to "Make it Big.". The Australian dream has been the house on the 1/4 acre block, not making millions in a Silicon Valley style buyout. Add to that the poor regard for those who are seen to be exploiting others for their personal gain and a strong dose of "Tall Poppy Syndrome" where the populous tries to tear down people who seem to be getting too big for their boots and you have a place where American style entrepreneurism is not encouraged.

That said, we tend to celebrate those who step ahead in business, but do it in a way that supports their workers and community.