You're dystopian hypothetical is based on financial disaster from 40 odd years ago, it's different now.
If you wanna keep the status quo with the inequities for non vic and small vic clubs, go ahead be my guest.
For mine, returning to state leagues, run by the state leagues and the sport of football has an independent guardian i:e like an afl that doesn't run a league is much better than what we have now.
More equal for everyone, including us the fans, the biggest stake holders.
It isn't going to happen, but the one thing more than any other I wish still existed was each club maintaining - and playing at - its own home ground. And I wish South Melbourne and especially Fitzroy were a part of it. It really does suck that you have a whopping one team in Victoria (Geelong) with a genuine home ground, that's 90% or more their own fans. Technically Melbourne do as well, but because everyone has played at the MCG a million times it's far more diluted. It would be incredible if every single team had that. Completely understand the grounds would need to support x number of fans etc., that's the reality, but it would be a great thing nevertheless.