if you start making statements like "the Phoenix are underperforming compared to the rest of the league" as the FFA have then per capita is relevant.
If you say "the raw numbers of the Phoenix simply aren't good enough to sustain a team" then per capita isn't relevant, but you also then have to look at other teams getting similar metrics and ask why their numbers aren't being called into question. Plus they gave a licence to us knowing our population base and as a result had a good idea of what our crowd and tv figures would be. To change your mind on that a few years down the track is very unfair on fans and especially owners who have invested a lot of their own time and money into the club.