Brett and Eddard I don't disagree with the financial value of Asia and Argentina at all, I just can't see why there couldn't have been one in Australia and New Zealand too. Australia I think does have the players, but they are lost to league as juniors because of a lack of playing opportunities or all get logjammed at the Waratahs/Reds.
I think the long term value of growing the game in those areas would be vast and would create totally new players.
Playing numbers in New Zealand and Australia are similar, but the New Zealand partial draft distributes them better and fewer are raided by league. I think it has much more talent than is realised and an extra team would help it do so.
Player talent would increase as more were discovered and in new areas, it would give spaces to players that currently go to league for want of playing opportunities, it would expand the game.
It's totally broken. NRL and AFL have three times the number of teams, soccer double, the former two with 1 billion plus TV deals. Rugby is being whipped in Australia with its feeble five team coverage and in New Zealand players such as SBW and Marshall are plucked more and more from under rugby's nose. This was a golden opportunity to do something about it lost.
The real outrage is the failure to expand in Australia and New Zealand at same time: if South Africa get a new team, why can't one of Western Sydney, Adelaide, Newcastle, Gold Coast and from New Zealand one of South Auckland, North Harbour, Bay of Plenty, Manawatu/Taranaki?