Why was basketball in the olympics when the Dream Team murdered all their opponents?
Basketball was at the Olympics well before the Dream Team murdered their opponents and it only took 1 Olympics for the world to begin to make significant ground on the USA. I don't think that is a fair comparison.
Since the ban on professionals was dropped the USA has dominated every Olympics, and would easily go in bigger favourites than Australia into the Comm Games. So yes, given one of the OP's beefs was our dominance, it is a very apt comparison.
It is a pity there wasn't more competition for medals, but as in any competition you can only beat those who show up.
It's bizarre that the Wildcats made up a third of the team, but end of the day Lucas Walker and Jesse Wagstaff now have Gold Medals, which is a heck of a lot more than I will ever achieve.