Easily a step up in the 4 and 5 spots. When did we last have 4 guys (Bogut, Schenscher, Anstey & Andersen) who are legitimately able to play the 4 & 5 spots well at international level? Longley never played in his prime. Bradtke was serviceable. Dorge/Borner/Rogers etc. were marginal international players IMO.
Bruton/Black/Smith/Newley aren't quite Gaze/Heal/Maher but I don't think they're horrible, either.
I wouldn't say it's unrealistic to expect Australia to compete with Lithuania, Brazil, Greece and Turkey. In fact, I'd say it'd be disappointing if we didn't sneak a win or two against those sides.
Yes, it is a hard draw, but I also agree with Smyth that it's one of (if not the) most talented Australian sides in recent history. Another finish outside the top 8 would definitely be considered a disappointment, IMO.