I'm not sure you've noticed but the English RU domestically is possibly in an even worse state than RL for the exact same reason.
Millionaires can invest in NRL clubs already, and do. The NRL has a bottom floor for catchment area of around 150k - 200k. There really is no need for anything lower than that and would devalue the brand.
P&R in its current guise does not furnish ambition. Quite the opposite. The teams without a shot of winning trophies (8/12 teams most years) just have to aim for 11th or better.
I'm sorry but it is delusional. The constant yo-yoing does nothing but hurt the game.