FIFA makes a half-hearted defence of the status quo...
For me the issue isn't so much about Oceania's representation (or not) at FIFA tournaments but Oceania's competitiveness at those tournaments, which leads to the question of how Oceania qualifies for tournaments.
Although each tournament is slightly different as a general rule I'd like to see Oceania qualifying blended with Asian qualifying in a way that doesn't punish the Island teams too much but offers much greater competitive and commercial opportunities to the Oceania champions, even if that means not always winning through to the main event. For instance, for WC qualifying either the Oceania champs join Asian qualifying in Round 4 (or maybe even the top two from Oceania join Round 3), or all the Oceania teams join Asian qualifying in Round 1, 2, or 3 depending on rankings (NZ would probably join Round 3).
There's heaps of options to make qualifying paths much more meaningful without either confederation giving up any political power, which seems to be the main stumbling block.
That is looking at NZs potential move into Asia from Oceania's perspective - which might not be in the best interest of NZ to be a little selfish.
Valcke used an analogy:
"If we leave Oceania out of tournaments, then they have no chance at all - it would mean that you kill them," says Valcke. "It's like if you have a child and he is not talking as well as the others at school. To not disturb the good ones, we will put him in a room and we will wait for him to speak; he will never speak, he will never succeed. For a chance to improve or perform, you have to be in competition with the others."
Which is fair for Oceania as a whole but for NZ, using the same analogy, NZ Football is "in competition" with kids that can hardly speak and then when they get to the world event, they are blown away by the oratory skill of other nations.