My view is it has a long way to go. The perception form a number of naive athletes and parents is that this business is "scouting" and "offering" them a spot. However, when observing the calibre kids that are there it is clear that they are a business that is open for anyone and the perception that they are offering spots is very deceptive marketing.
It's around $20 K per year for 2 yrs. At the end of the process you get a piece of paper with qualifications that will not be recognised by any employer whatsoever, be it professional sports organisation or any other enterprise. No educational institution would give you recognition/credit for this piece of paper either.
Furthermore there is a VERY key component missing. The competitive component. Working in a team environment, under pressure, suffering setbacks and dealing with them, measuring yourself in a competitive environment, dealing with coaches that need to win to keep their jobs (as in the college/professional system), fighting for your spot with team/club mates is missing from this process. These components are just as important as talent. We see this with the extremely athletic and talented African kids that in some cases haven't had exposure to the above and are found left wanting when it comes to succeeding in the sport.
There are some very good, high profile people involved with this school, that have had proven success in recruiting outstanding talent and harnessing that talent in an nbl program. They are yet to prove themselves in their abilities to develop talent and they won't do this until they are developing those athletes in a competitive environment.
I would suggest while the concept has great potential if I was an athlete that didn't have super-rich parents then I would question the value for money. I would get into a tafe/uni course that means something, collect he govt. funding for that and try to crack it in my abl program, perhaps getting an individual coach with nbl playing/coaching experience. That way you get: competitive exposure, have to fight for your spot, individual coaching, qualifications that mean something and all without a massive HECS debt with nothing to show for it.