While not an expert on Australian regulation, the only thing I can add is that some time back, CASA seemed to go through one re-organisation too many, meaning that they greatly cut back on the areas they were involved with, both internally and internationally, losing some very experienced staff in the process. They very much, IME, dropped off the international radar, which is a loss both for them and for the international safety community.
And a great point about using safety as a lever in industrial relations. Not only does it cry wolf, but it also is not good for the public perceptions of what safety is or isn't - and that can be bad enough at times!
Edited to add - but the CAA website is pants. You actually have to work with them to get an idea of what they are like - the website seems to be deliberately set up to annoy everyone and be as confusing as possible