http://www.abc.net.au/news/2012-03-29/government-announces-n...
It's a once-in-100 years project to create infrastructure with a lifetime of the same order. It involved replacing nearly 100% of the country's telecommunications infrastructure. 5 years is not particularly long in that context, and trashing it because you can't wait 7 years or even 10 years instead of 5 in exchange for a vastly inferior outcome is just utter stupidity.
So yes, measuring rollout numbers 5 years in is meaningless.
Melbourne already had awesome internet, the need was much less there. You can disagree with the decision to rollout to internet-disadvantaged areas if you want, but don't pretend that the conscious decision to do so was bad management when it was actually an attempt at equity (ie: addressing the most needy customers first).
It's also not meaningless 5 years into a project that was announced 7 years prior.