If something like this did happen, how about a team from each of the Australian states fielding a team of players from that region (eg NSW, Queensland) and New Zealand fielding one team. If there are shortages on players then more can be called up from the state leagues and the NZFC
I'm not sure that these would draw decent crowds. Also, NSW is probably a fair way ahead of the other teams. A states + NZ youth tournament would be good for development and scouting purposes.