If FIFA don't want the OFC representatives to be a joke at major tournaments and there's too many barriers to merging OFC with AFC then maybe FIFA should invest some big money into development in Oceania. No amount of investment will bring the island nations up to even a level of an average European team like Slovakia, Montenegro, Albania or England, but I do think that they could be significantly better than they are now with a bit of investment in coaches, training facilities, and travel to other countries for matches against better opposition.
Of course this probably won't happen but it's another way of looking at the issue.
Edit: Realised I might be being a bit harsh on Slovakia, Montenegro,and Albania there...